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Similar grades at magnet high schools (and, in general, more challenging schools) will likely be somewhat more well-respected than those at Grade Inflation Public High School, just as a B in Calc BC isn't a killer like a B in, say, English I. Also, be aware that rankings published by US News mean much less for high schools than they do for colleges and universities, for whom they are still severely flawed. I don't know which rankings you're referring to, but I've never heard of high school rankings (any, actually) that aren't snake oil.
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