For instance, multiply 8% by 100%, etc. I think I just need to find the right formulas.

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Hey @Matthew, I’m happy to help clarify. For example:

A conservative investor from Illinois in the 37% federal tax bracket […]

8.00% yielding Treasury bond

The Treasury bond is taxable only at the federal level. To find the after-tax return, multiply the yield (8.00%) by 100% minus the tax bracket (100% - 37% = 63%). The after-tax return is 5.04%.

To find the after-tax return, we start with the full return (100%) and subtract the amount the investor would pay in tax (37%). In this case, the investor would only get 63% of the original return. Since the original return was 8%, the after-tax return is 63% of 8% = 5.04%.

Let me know if I can explain further!

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