Assume all investors have a choice between investing in equity that will offer a $11\%$ return in the form of capital gains or investing in debt that will offer a $12\%$ return in the form of interest income. Investor A pays taxes at the rate of $35\%,$ and Investor B pays taxes at the rate of $25\%$ on ordinary income. Both pay taxes at the rate of $15\%$ on capital gain income. Which type of investment should each investor make?