Assume that Jose is indifferent between investing in a corporate bond that pays 10% interest and a stock with no growth potential that pays an 10.2% dividend yield. Assume that the tax rate on dividends is 15%. What is Jose's marginal tax rate? (Do not round intermediate computations.)

Multiple Choice

• 28.52%

• 18.74%

• 13.30%

• 5.64%

• None of the choices are correct.