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Pursuing an interest in real M-estate, Mr. Ryan obtained his broker’s M-license; and in 1949, at 26 years of age, opened the first of several real estate, insurance, and mortgage banking M-offices in.
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(1) Fully taxable equivalent (TE) calculations include the tax benefit associated withthat are tax-exempt using a marginal tax rate of 35%. (2) Tangible calculations eliminate.
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