Assume you are a New York Resident in tax-year 2020, you are in the 32% tax bracket at the Federal level and in the 6.49% tax bracket for your New York state income tax. Assume a money market fund that invests in commercial paper, yields 1.75%. 

1. What yield would make you indifferent between this fund and a money market fund that invests exclusively in treasury securities? 

2. What yield would make you indifferent between the fund investing in commercial paper and a money market fund that invests exclusively in securities issued by state and local governments in New York?