Suppose you're evaluating three alternative MMMF investments. The first fund buys a diversified portfolio of municipal securities from across the country and yeilds 3.2 percent. The second fund buys only taxable, short term commercial paper and yields 4.9 percent. The third fund specializes in the municipal debt from the state of New Jersey and yields 3.0 percent. If you are a New Jersey resident, your federal tax bracket is 35 percent, and your satate tax bracket is 8 percent, which of these three MMMFs offers you the highest aftertax yield?