What is the break-even tax rate how do you interpret this, Financial Management

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What is the break-even tax rate how do you interpret this

Suppose taxable bonds are currently yielding 8%, while at the same time, municipal bonds of comparable risk and maturity are yielding 6%. Which is more attractive to an investor in a 40% tax bracket? What is the break-even tax rate? How do you interpret this rate?

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Financial Management: What is the break-even tax rate how do you interpret this

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Financial Management: What is the break-even tax rate how do you interpret this

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