Ched Alan inherited $102,400 with the stipulation that he "invest it to financially benefit his family." Alan and his wife Alice decided they would invest the inheritance to help them accomplish two financial goals: purchasing a Park City vacation home and saving for their son Cooper's education. Vacation Home $ 51,200 Cooper's Education $51,200 Initial investment Investment horizon 5 years 18 years Alan and Alice have a marginal income tax rate of 32 percent (capital gains rate of 15 percent) and have decided to investigate the following investment opportunities. Complete the two annual after-tax rate of return columns for each investment. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) 5 Years Annual After- Tax Rate of Return 18 Years Annual After- Tax Rate of Return 5.75 % 3.91% 4.75 % 3.23% Corporate bonds (ordinary interest taxed annually) Dividend-paying stock (no appreciation and dividends are taxed at 15%) 3.50 % 2.98% 3.50 % 2.98% Growth stock Future value is $71,000 % Future value is $200,000 % Municipal bond (tax-exempt) 3.20 % 3.20 % 3.10 % 3.10%