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Securities Series 65 Licensing Exam Practice Question for February 8th


Dan is the owner of a mutual fund that returned him a before-tax return of 15% last year. Inflation is running at an annual rate of 3%, and Dan is in a 27% marginal income tax bracket. What has been Dan's approximate inflation- adjusted after-tax return on the fund over the course of the last year (rounded to the nearest 2 decimal points)?

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Question: 42
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