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What is curtiss after-tax rate of return on the city

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Question

Curtis invests $775,000 in a city of Athens bond that pays 9.75% interest. Alternatively, Curtis could have invested the $775,000 in a bond recently issued by Initech, Inc. that pays 12% interest with similar risk as the city of Athens bond. Assume that Curtis's marginal tax rate is 24%.

What is Curtis's after-tax rate of return on the city of Athens bond?

Reference no: EM132365332

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