A client in the 33 percent marginal tax bracket is comparing a municipal bond that offers a 5.40 percent yield to maturity and a similar-risk corporate bond that offers a 6.90 percent yield. Determine the equivalent taxable yield. (Round your answer to 2 decimal places.)

8.059%

Explanation:

From the question, we are informed that a client in the 33 percent marginal tax bracket is comparing a municipal bond that offers a 5.40 percent yield to maturity and a similar-risk corporate bond that offers a 6.90 percent yield.

Equivalent taxable yield will be calculated as:

= Municipal bond yield/(1 - Tax Rate)

= 5.40/(1 - 33%)

= 5.40/(1 - 0.33)

= 5.40/0.67

= 8.059%

answer; possession utility;

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'