If you purchase a tax-free municipal bond paying an annual rate of 6% what is the before tax rate if you are in the 15% tax bracket, 28% tax bracket, 36% tax bracket.
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it is 6%/(1-0.15) = 7.06%
6%/(1-0.28) = 8.33%
6%/（1-0.36） = 9.375%
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