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A company is investigating the purchase of a banker’s acceptance (BA). The $1,000,000 face value BA has 150 days to maturity and is quoted at 4.05 percent on a discount-basis yield. If the company’s marginal tax rate is 25 percent, then the money market yield on the BA is closest to:$ C& h: k. E3 p( N9 c8 E
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A. 3.13%.' y L' R0 `5 @# m: a6 a
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B. 4.12%.0 A& _/ S U4 i$ i( U
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C. 4.18%.
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