29. Suppose high-grade taxable bonds trade at a 5% yield and high-grade tax exempt municipal bonds with the same maturity trade at a 3.5% yield. If both bonds trade at par and corporations pay taxes at 40% and individuals pay taxes at 15% on equity, what is the PV(lnterest Tax Shields) per dollar of debt? HINT: You need to estimate the personal tax rate on interest income. 0.2714 0.0150 0.1250 0.2514 9.0 5:99