Answer:
Bond interest * (1 – t) = Stock dividend * (1 – 15%)
10% * (1 – t) = 9.7% * (1-15%)
10%(1-t) = 9.7%(0.85)
(1-t) = 8.245%/10%
1-t = 0.8245
t = 0.1755
t = 17.55%
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