Kayla is in the 28% federal income tax bracket and the 5% state income tax bracket
If she purchases a municipal bond yielding 4.25%, what is the equivalent yield on a taxable bond if the municipal bond income is exempt from both federal and state taxes?
A) 4.47%
B) 5.90%
C) 6.34%
D) 6.21%
Answer: D
Business
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