2. Curtis invests $250,000 in a city of Athens bond that pays 7% interest. Alternatively, Curtis could have invested the $250,000 in a bond recently issued by Initech, Incorporated that pays 9% interest with similar risk as the city of Athens bond. Assume that Curtis's marginal tax rate is 32%. a. How much explicit tax would Curtis incur on interest earned on the Initech, Inc. bond? b. How much implicit tax would Curtis pay on the city of Athens bond? c. If Curtis invested in the Initech, Inc. bonds, what would be his after-tax rate of return from this investment? d. What interest rate would Initech have to pay in order to make Curtis indifferent between investing in the city of Athens and the Initech, Inc. bonds for 2021 ? \begin{tabular}{lcc} \multicolumn{3}{c}{ Standard Deductions } \\ Married Filing Jointly & $ & 25,100 \\ Qualifying Widow or Widower & $ & 25,100 \\ Married Filing Separately & $ & 12,550 \\ Head of Household & $ & 18,800 \end{tabular}