Stephanie is considering purchasing a fixed-income investment. She has narrowed her list of bond choice to two AAA-rated investments. The first is a corporate bond that matures in seven years. The bond yields 6.35%. The second bond also matures in seven years; however, this bond is a municipal bond issued by the state in which Stephanie resides. The bond has a current coupon rate at 4.79%. Stephanie is in the 25% marginal federal tax bracket and the 3.50% marginal state tax bracket. Which bond should she invest in to maximize her after-tax rate of return?