Calculation of Tax Effective Yields: A Correction

J. W. Colin and Edward A. Dyl

Journal of Financial and Quantitative Analysis, 1971, vol. 6, issue 4, 1163-1164

Abstract: A recent article in this journal [1] described a model for the computation of taxadjusted true yields to maturity on discount bonds and explained the use of a computer routine implementing this model. Unfortunately, the translation of the computer program into equation form contained a number of notational errors. In addition, there was an equals sign missing from the third equation [1, page 267]. As a result, the reader, in attempting to implement the model as it was formulated in the original article, will probably fail.

Date: 1971
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