Dennis is currently considering investing in municipal bonds (not subject to federal tax) that earn 6 percent interest, or in taxable bonds issued by the Coca-Cola Company that pay 8 percent. Answer the following questions: 1. If Dennis tax rate is 22 percent, which bond should he choose? 2. Which bond should he choose if his tax rate is 32 percent? 3. At what tax rate would he be indifferent between the bonds?