Which of the following are TRUE?
Build America Bonds are tax exempt at all levels
Direct payment BABs provide the municipal issuer with payments from the U.S. treasury.
Build America Bonds are issued by the U.S. Treasury.
Tax credit or issuer BABs provide the municipal bondholder with a federal income tax credit.
A) I and III.
B) I and IV.
C) II and III.
D) II and IV.
Answer: D) II and IV.