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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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& j) z3 [' x' F1 \- m# KA. 3.13%.
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# m: c: J# q' L0 ^* M) o1 l9 q DC. 4.18%.
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