Steve "The Chef" Smith decided to invest in LittleGive Bank in a $10,000 certificate of deposit for 5 year that pays an interest rate of 3.5% annually (single interest). Suppose that the interest payment they send it annually in a check to your home and that this money is taxable. When the certificate, he will receive his $10,000 return (non-taxable amount). The marginal tax rate of "The Chef" is 24% and overall inflation is expected to be 2% per year. Determine for this investment instrument: (a) The rate of return before taxes, ignoring inflation. (b) The rate of after-tax return, ignoring inflation (c) The rate of return after tax, considering inflation.