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Category > Business & Finance Posted 18 May 2017 My Price 8.00

Assume you are in the 28 percent tax bracket

Assume you are in the 28 percent tax bracket and purchase a 3.75 percent municipal bond. Use the formula presented in this chapter to calculate the taxable equivalent yield for this investment. (Obj. 4) (p. 367)

 

The tax-equivalent yield is 5.21 percent.

Tax equivalent yield = tax-exempt yield divided by (1.0 minus current tax rate)

Tax equivalent yield = 3.75 percent (0.0375) divided by (1.0 minus 0.28) = 0.0521 = 5.21 percen

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Status NEW Posted 18 May 2017 04:05 AM My Price 8.00

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