Curtis invests $$775,000$ in a city of Athens bond that pays $9\mathrm{.}75$ percent interest. Alternatively, Curtis could have invested the $$775,000$ in a bond recently issued by Initech, Incorporated that pays $12$ percent interest with similar risk as the city of Athens bond. Assume that Curtis's marginal tax rate is $24$ percent.

What is Curtis's after$-$tax rate of return on the city of Athens bond?

Multiple Choice

$8\mathrm{.}07$ percent

$9\mathrm{.}59$ percent

$975$ percent

$11\mathrm{.}75$ percent

None of the choices are correct.