A financial planner has just completed an analysis of Anabell Snyder's fixed-income holdings. She has determined each of Anabell's after-tax yields, but is cautioning Anabell that the tax implications of her holdings could change if Congress alters marginal tax rates. Based on the following after-tax yields, which of these bonds would offer the greatest after-tax return if Anabell's federal marginal tax bracket increased from 25 to 30 percent, while her state marginal bracket remained 4.5 percent? A corporate bond with a 5.1 percent after-tax return An out-of-state municipal bond with a 5.0 percent after-tax return An in-state municipal bond with a 4.8 percent after-tax return