A treasurer has excess cash for the day and want to choose between the following two investments and the firms marginal tax rate is 21%:

Investing in a 30-day Treasury Bill that has a face amount of 100,000 and trades at a 1.0% discount, or

Investing in a municipal money market instrument that has a Taxable Bond Equivalent Yield of .85%

Which investment has the highest after-tax bond equivalent yield?