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A 5-year corporate bond yields 8.30%. A 5 -year municipal bond of equal risk yields 6.50%. Assume that the state tax rate is zero. At

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A 5-year corporate bond yields 8.30%. A 5 -year municipal bond of equal risk yields 6.50%. Assume that the state tax rate is zero. At what federal tax rate are you indifferent between the two bonds? (Round your final answer to two decimal places.) a. 22.12% b. 23.64% c. 25.37% d. 17.57% e. 21.69%

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