Bill Martin, Dave Martin, and Charles Martin are three brothers living in the same province. They each have $20,000 that they wish to invest. Because of differences in their current employment situations, they are in different tax brackets. These brackets are as follows: Bill Martin Dave Martin Charles Martin Federal Tax Bracket 15.0 Percent 20.5 Percent 29.0 Percent Provincial Tax Bracket 6.0 Percent 9.5 Percent 14.0 Percent The provincial dividend tax credit on eligible dividends is equal to 30 percent of the dividend gross up. For a number of years, they have been interested in the securities of Moland Industries, a Canadian public corporation, and on January 1 of the current year, they are considering two securities of the company that are currently outstanding. These securities and their investment characteristics are as follows: Bonds The company has a large issue of debenture bonds that has a coupon interest rate of 6 percent. They are selling at par value and mature in 18 years. The Shares company has an issue of shares that has reliably paid a dividend of 4 percent, and is expected to continue to do so. The income from these investments would not move any brother to a higher federal or provincial tax bracket. Required: Advise each of the Martin brothers as to which investment he should make. Calculate the aftertax income that would be generated for each brother during the current year, assuming he invests the entire $20,000 in either the bonds or the shares