Joe is considering 2 similar bonds, with the only difference that: (1) a tax-exempt municipal bond promises a 5.625%annual return, (2) a taxable corporate bond promises a 7.5% annual return. If Joe's tax rate is 25%, which bond should he buy?

		Either one, both have the same after-tax yield
		Municipal bond, as it has a higher after-tax yield
		Corporate bond, as it has a higher after-tax yield
		Not enough information is given to answer the question