Municipal bond problem

You are considering investing in two local bonds today. A Steelcase Corp bond with 8% semiannual coupon and a Kent County municipal bond with a 5% semiannual coupon. Both bonds are trading at a price of 95 and mature on December 31, 2033. Todays date is 10/9/2023. Your federal tax rate is 32% and your Michigan income tax rate is 4.25%.

What is the YTM on each of the bonds?

What is the equivalent taxable yield of the Kent County bond?

What is the after-tax yield of the Steelcase bond

What applicable tax rate would make you indifferent between the two bonds? If the tax rate is higher than that which bond would you prefer?

Which one would you prefer if you plan to retire next year, and your federal tax rate drops