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A company is investigating the purchase of a banker’s acceptance (BA). The $1,000,000 face value BA has 150 days to maturity and is quoted at 4.05 percent on a discount-basis yield. If the company’s marginal tax rate is 25 percent, then the money market yield on the BA is closest to:4 S2 q3 K% B- ~% `* V
2 P# M+ h' h& q8 m# R8 i1 Q' ` E3 yA. 3.13%.# P. ^9 G) F, v
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B. 4.12%.0 F* z3 r( \' ~# o, @
2 n2 Z) J1 R# Z( F* \3 T/ [C. 4.18%.
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0 C2 ^% Y: [5 ^9 F0 O9 j& i+ {) s$ s
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