Suppose IBM bonds have a pretax yield of 9%, Treasury bonds have a pretax yield of 7.75%, and Ilinois GO bonds have a pretax yield of 5.50%. Based solely on tax considerations, which of these three bonds would the following investors prefer? a. An investor in Michigan with marginal federal tax rate= 28% and state tax rate 9% b. An investor in New York with marginal federal tax rate 28% and state tax rate 15% c. An investor in Illinois with marginal federal tax rate = 35% and state tax rate 5% d. An investor in Illinois with marginal federal tax rate 15% and state tax rate 5% e. A qualified tax-exempt pension fund