Mantle Corporation is considering two equally risky investments:

$$ A $$5,000$ investment in preferred stock that yields $8\mathrm{.}15\%.$

$$ A $$5,000$ investment in a corporate bond that yields $10\mathrm{.}80\%.$

What is the breakeven corporate tax rate that makes the company indifferent between the two investments? Assume a $50\mathrm{.}00\%$ dividend exclusion for taxes on dividends. $($Do not round your intermediate answer and round your final answer to two decimal places.$)$