A taxable issue yields 55 percent and a similar municipal, Risk Management

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A taxable issue yields 55 percent and a similar municipal

A taxable issue yields 5.5 percent, and a similar municipal issue yields 4 percent. What is the critical marginal tax rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

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Risk Management: A taxable issue yields 55 percent and a similar municipal

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