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VARVARA [1.3K]
3 years ago
5

A municipal bond carries a coupon of 6.75% and is trading at par. What is the equivalent taxable yield to a taxpayer in a combin

ed federal plus state 34% tax bracket
Business
1 answer:
Bingel [31]3 years ago
8 0

Answer:

10.23%

Explanation:

Formula for computation of equivalent taxable yield is r = rm/1-t. Where the tax rate is t, rm is Yield on municipal bond and r is Tax equivalent yield

r = rm/1-t

r = 6.75% / 1 - 34%

r = 6.75% / 0.66%

r = 10.22727272727273%

r = 10.23%

So, the equivalent taxable yield to a taxpayer in a combined federal plus state 34% tax bracket is 10.23%.

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