$5.$ You are considering investing in a Nike $20$ year corporate bond. The bond has a credit rating of AAA, and is paying a stated, nominal interest rate of $3\mathrm{.}45\%.$ You are also considering a bond issued by the state of New York to finance road construction, also rated AAA. It is offering a nominal, stated rate of $3\mathrm{.}15\%.$ You are in the $34\%$ marginal federal income tax bracket. Assume no other taxes are relevant. What is the marginal tax rate at which you would be indifferent between the two bonds; they would pay the same AT rate of return?