QUESTION 27 Margaret owns land that appreciates at the rate of 10% each year. Ralph owns a zero-coupon (i.e., all of the interest is paid at maturity) corporate bond with a yield to maturity of 10%. At the end of 10 years, the bond will mature and the land will be sold. At the end of the 10 years, a. Ralph will have accumulated a greater after-tax amount because the interest on the bond is tax-exempt. b. Margaret will have accumulated the greater after-tax amount because the gain on the land is tax-exempt. c. Margaret will accumulate the greater after-tax amount because she earns a return on the deferred taxes. d. Margaret and Ralph will have accumulated the same after-tax amounts