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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:
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' K* _( i- E" j& d- u0 ^B. 4.12%.
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" M- o- j/ D9 s6 Q# E% p' r( aC. 4.18%.
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