Equivalent Taxable Yields [8 points] a. [4 points] Consider a tax-exempt municipal bond with an annual yield of 2%. Find the equivalent taxable yield for investors with each of the following tax brackets: 0%; 15%; 25%, 35%. a. [4 points] Fairfax County, an AAA-rated municipality, issued tax-exempt municipal bonds that yield 1% and mature in 5 years. Otherwise identical corporate bonds that are AAArated and mature in 5 years but are taxable yield 1.4%. What is the implied tax rate?