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A company is investigating the purchase of a banker’s acceptance (BA). The $1,000,000 face value BA has 150 days to maturity and is quoted at 4.05 percent on a discount-basis yield. If the company’s marginal tax rate is 25 percent, then the money market yield on the BA is closest to:+ J, m$ c& T v% W9 g! c
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A. 3.13%." S1 P% F1 }" Z4 z3 K
( @; z* T# j4 K$ K% gB. 4.12%.+ ^8 T" [ t% ?3 \' v3 w& x
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C. 4.18%.& a( r3 k7 W8 c1 v1 ?2 S
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