Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 20 Jan 2018 My Price 4.00

municipal bond.

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 percent

 

 
 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Jan 2018 11:01 PM My Price 4.00

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