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curtis invests $700,000 in a city of athens bond that pays 9.25% interest. alternatively, curtis could have invested the $700,000 in a bond recently issued

curtis invests $700,000 in a city of athens bond that pays 9.25% interest. alternatively, curtis could have invested the $700,000 in a bond recently issued by initech, inc. that pays 11% interest with similar risk as the city of athens bond. assumes that curtis's marginal tax rate is 24%. what is curtis's after-tax rate of return on the city of athens bond? (correct answer is 9.25%, show explantion please.)

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