You earn 6% on your corporate bond portfolio this year, and you are in a 24% federal tax bracket and an 9% state tax bracket. Your after-tax return is ________. (Assume that federal taxes are not deductible against state taxes and vice versa) .
A) 4.5%
B) 4.14%
C) 4.02%
D) 3.12%
Correct Answer:
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