20 Jackson has the choice to invest in city of Mitchell bonds or Sundial, Incorporated corporate bonds that pay 8.4 percent interest Jackson is a single taxpayer who earns $63,000 annually. Assume that the city of Mitchell bonds and the Sundial, Incorporated bonds have similar risk. What interest rate would the city of Mitchell have to pay in order to make Jackson indifferent between investing in the city of Mitchell and the Sundial, Incorporated bonds for 2020? (Use tax rate schedule.) 00:45:02 Bo Multiple Choice 6.55 percent 8 40 percent Individuals Schedule X-Single If taxable income is over:But not over: The tax is: $ 0 $ 9,875 10% of taxable income $ 9,875 $ 40,125 $987.50 plus 12% of the excess over $9,875 $ 40.125 $ 85,523 S4,617.50 plus 22% of the excess over $40,125 $ 85.525 $163,300 $14,605,50 plus 24% of the excess over $85,525 $163,300 $207,350 $33,271.50 plus 32% of the excess over $163,300 $207,350 $518,400 $47.367.50 plus 35% of the excess over $207,350 $518,400 S156,235 plus 37% of the excess over $518,400