Assume that Will's marginal tax rate is 30% and his tax rate on dividends is 15%. If a dividend-paying stock (with no growth potential) pays a dividend yield of 6.6%, what interest rate must the corporate bond offer for Will to be indifferent between the two investments from a cash-flow perspective?

Multiple Choice

10.10%

9.19%

8.01%

5.74%

None of the choices are correct.