Janice Wicox is a wealthy investor who's looking for a tax sheller. Janice is in the maximum (37\%) federal tax bracket and lives in a state with a very high state income tax. (She pays the maximum of 12.3% in state income tax) Janice is currently looking at two municipal bonds, both of which are seding at par. One is a AA-rated in-state bond that carnes a coupon of 6.375%. The other is a M.rated, out-of-state bond that carnes a coupon of 7.125%. Her broker has informed her that comparable fully taxable corporate bonds are currectly available with yialds of 9.75056 . Altematively. long Treasuries are now avaliable at yields of 9000%. She has $100,000 to invest, and because all the bonds are high-guality issues, she wants to sulect the one that will give her maximum anter-tax retures. a. Which one of the four bonds should she buy? b. Rank the four bonds (from best to wornt) in terms of their taxable equivalent yelds a. The taxabilo equivalent yield on the in-state municipal bond is (Round to three decimal places )