in the PM exam, question 106, they ask for the yield ratio. Why don't we adjust the municipal yield to make it taxable equivalent?作者: Matori 时间: 2011-7-13 16:51
bump...i dont understand this either作者: amqata 时间: 2011-7-13 16:51
Because in this instance, they are giving us the spread. If they didn't give us the spread, then we'd use the taxable yield.
