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A company is investigating the purchase of a banker’s acceptance (BA). The $1,000,000 face value BA has 150 days to maturity and is quoted at 4.05 percent on a discount-basis yield. If the company’s marginal tax rate is 25 percent, then the money market yield on the BA is closest to:
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A. 3.13%.# J( F: p# N4 i6 u& U5 R& }
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B. 4.12%.' T! {1 R$ }$ x. X
6 |/ h- R% b6 C1 I9 ?5 P# XC. 4.18%. P: l/ \3 y9 z, ~/ H- |8 \
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