Fergie has the choice between investing in a State of New York bond at 6.9 percent and a Surething Inc. bond at 10.8 percent. Assuming that both bonds have the same nontax characteristics and that Fergie has a 30 percent marginal tax rate, what interest rate does the state of New York bond need to offer to make Fergie indifferent between investing in the two bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Interest rate % Congress would like to increase tax revenues by 11.5 percent. Assume that the average taxpayer in the United States earns $62,000 and pays an average tax rate of 10 percent. a. If the income effect is in effect for all taxpayers, what average tax rate will result in a 11.5 percent increase in tax revenues? (Round your answer to 2 decimal places.) Average tax rate