Calculate the taxable interest rate that will provide the equivalent after-tax return in the cases that follow.

1. A taxpayer is in the 28 percent tax bracket and invests in a San Diego City Bond paying 7 percent. What taxable interest rate will provide the same after-tax return?

2. A taxpayer is in the 33 percent tax bracket and invests in a New York State Bond paying 6.5 percent. What taxable interest rate will provide the same after-tax return?