Gordon wishes to invest $10,000 in one of three alternatives: (1) a tax-exempt bond that pays 4.5%, (2) a taxable bond that pays 6%, and (3) a dividend-paying stock that has a dividend yield of 5.25%. What marginal tax rate will make Gordon indifferent between the tax-exempt bond and the taxable bond? 1.5% 25% 33.3% Cannot be determined