A firm in the 25 percent tax bracket is aware of a tax-exempt security that is paying a yield of 9.25 percent. To match this yield, taxable securities must offer a before-tax yield of Group of answer...

A firm in the 25 percent tax bracket is aware of a tax-exempt security that is paying a yield of 9.25 percent. To match this yield, taxable securities must offer a before-tax yield of

Group of answer choices

7.0 percent.