Kruger Industrial Smoothing Inc. is trying to choose between three alternative investments. The three securities Kruger is considering are as follows: State of New York municipal bonds with a return of 6%. Brand Leland Corporate bonds with a return of 8%. Kruger Industrial Smoothing preferred stock with a return of 9%. Assuming the state + federal tax rate of 25%, Which investment should the firm choose, and what is the after-tax return on that investment