(A.) A married couple from California is in the 31% Federal tax bracket and the 10% California tax bracket. They are considering a 512% Arizona municipal bond (Federal tax-free), a 5% California bond (double tax-free) or a 712% corporate bond (fully-taxable). Which bond offers the highest after-tax interest rate? (Please show at least 3 digits.)

(B.) A bond with a par value (a.k.a. face value) of $1,000 that pays 8% is currently priced at $1,100. What is the nominal interest rate? Calculate the current yield. (Please show at least 3 digits.)