Arvo Corporation is trying to choose between three alternative investments. The three securities that the company is considering are as follows:

$$ Tax$-$free municipal bonds with a return of $9\mathrm{.}30\%.$

$$ Wooli Corporation bonds with a return of $12\mathrm{.}90\%.$

$$ CFI Corp. preferred stock with a return of $10\mathrm{.}70\%.$

The company's tax rate is $25\mathrm{.}00\%.$ What is the after$-$tax return on the best investment alternative? Assume a $50\mathrm{.}00\%$ dividend exclusion for taxes on dividends. $($Round your final answer to $3$ decimal places.$)$

a$.9\mathrm{.}363\%$

b$.8\mathrm{.}025\%$

c$.11\mathrm{.}288\%$

d$.9\mathrm{.}675\%$

e$.9\mathrm{.}300\%$