If a fully-taxable bond yields a BTROR of 10% (Rb = 10%)and a tax-exempt bond of similar risk earns a BTROR of 7.5% (Rf = 7.5%),then the implicit tax rate is

A)25%.

B)75%.

C)10%.

D)None of the above.

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# If a fully-taxable bond yields a BTROR of 10% (Rb = 10%)and a tax-exempt bond of similar risk earns a BTROR of 7.5% (Rf = 7.5%),then the implicit tax rate

A)25%.

B)75%.

C)10%.

D)None of the above.