The quantum mechanical model of the photon and electron is considered. The photon is conceived of as a particle moving with the speed of light which is accompanied by the wave function of the photon spreading out with an infinite speed. The wave function of the electron is introduced in terms of virtual photons tied to the electron. A description of electrostatic and magnetostatic interactions is given through the wave functions of electrons. The approach provides an explanation of the results of recent experiments measuring the speed of propagation of the bound magnetic field.

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