Paul has $9,000 that he wishes to invest in bonds. He can purchase Treasury bonds with a coupon rate of 6.2% or municipal bonds with a coupon rate of 4.3%. Paul lives in a state with no state income tax and has a marginal tax rate of 25%. Which investment will give Paul the higher annual earnings after taxes are considered?

Paul's income from the Treasury bonds after taxes is? (Round to the nearest dollar.)

Paul's income from the municipal bonds after taxes is? (Round to the nearest dollar.)

Which will give Paul the higher annual earnings after taxes are considered?