问题
单项选择题
An analyst does research about tax-exempt bonds. An investor with 28% marginal tax rate purchase a tax-exempt bond yielding 3.5%. The investor's taxequivalent yield is closest to:（）
A. 2.52%
B. 4.86%
C. 12.50%
答案
参考答案：B
解析：
设税收等同收益率(tax-equivalent yield)为X，则X×(1-28%)=3.5%，算出X=4.86%。