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An investor deposited $54,000 in a zero coupon bond position 10 years ago. It consisted of 100 zero coupon bonds each with a face value of $1,000 and 10 years to maturity. The investor’s average marginal tax rate is currently 20%. At maturity after all taxes have been paid, the value of the position is $92,000. Compute the accrual equivalent tax rate. A. 14.00%. B. 12.18%. C. 16.27%. |