A taxpayer is considering buying a fully taxable corporate bond. The bond has a remaining maturity of 5 years promises to pay 6% interest annually (assume the coupon interest is payable annually) and has a face value of $1,000. The taxpayer faces a 31% tax rate on the interest income and requires a pretax rate of return of 6% to invest. What price is the taxpayer willing to pay for this bond? The same taxpayer is also considering buying a tax-exempt municipal bond. The municipal bond as a remaining maturity of 5 years, also promises to pay 6% interest annually (again the coupon interest is payable annually), and has a face value of $1,000. Assume the corporate and municipal bonds are equally risky. At what price is the taxpayer indifferent between the corporate and municipal bond?