Daniel who is in the 25% tax bracket sells taxable bonds (at no gain or loss) which yielded $900 of interest annually and purchases tax-exempt bonds yielding $400 of annual interest. What is the net cash effect of these transactions to Daniel for the year? a. Increases by $ 900. b. Increases by $ 225. c. Decreases by $ 625. d. Decreases by $ 275. e. None