A n investor in a 30% marginal tax rate ask you for a recommendation in terms of after tax yield of 2 investment alternatives

A. A 131 days Commercial Paper with $100,000 par value at a price of 98% of par.

B. A 14% coupon rate municipal bond

What is the difference in after tax yield between the bond and the commercial paper.

PRESENT YOUR ANSWER AS PERCENTAGE ROUNDED TO ZERO DECIMAL PLACES, DON'T USE THE PERCENTAGE SYMBOL.

EXAMPLE IF YOUR ANSWER IS 12.80%, JUST WRITE 13

DON'T MAKE INTERMEDIATE ROUNDINGS