Suppose you're evaluating three alternative MMMF Investments. The first fund buys a diversified portfolio of municipal securities from across the country and yields 4.05 percent. The second fund buys only taxable, short-term commercial paper and yields 5.7 percent The third fund specializes in the municipal debt from the state of New Jersey and yields 3.7 percent. You are a New Jersey resident your federal tax bracket is 35 percent, and your state tax bracket is 8 percent. (Assume your state taxes do not affect your federal taxable income.) a. Calculate the aftertax yield for each of the alternatives. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) 06 Aftertax Yield % Municipal Fund Taxable Fund New Jersey Municipal Fund es % % b. Which of these three MMMFs offers you the highest aftertax yield? O New Jersey Fund Municipal Fund Taxable Fund