A municipal revenue bond indenture contains a net revenue pledge. The following are reported for the year: $30 million of gross revenues, $18 million of operating expenses, $4 million of interest expenses, and $2 million of principal repayment. What is the debt service coverage ratio?A)5:1. B)9:1. C)3:1. D)2:1.
Tax-free municipal bonds would be least attractive to a(n):
The federal tax exemption of municipal bonds was established by:
All of the following issue securities which are exempt from state and local taxes EXCEPT the:
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