Suppose that you are a financial advisor to two individuals who are considering investing in either a taxable Corporate Bond with an interest rate of 7.25%, or a federal tax-exempt Municipal Bond with a rate of 5.12%. Assume that both bonds have the same default risk and that, given their respective levels of income, one of the investors, Ms. Benson, is subject to a marginal income tax rate of 39%, while the other investor, Mr. Zambrano, pays a marginal income tax rate of 22%. Which bond would you recommend to each of these two investors? Why?