The XYZ corporation has some excess cash it would like to invest in marketable securities for a long-term hold. Its CIO is considering three investments. Which one of the following investment options should the CIO select: (a) Treasury bonds at a 10 percent yield; (b) corporate bonds at a 13 percent yield; or (c) preferred stock at an 11 percent yield? Hint: Remember to use after-tax returns for comparison. XYZ corporation is in a 35% tax bracket and the tax rate on dividends is 20%. Show work (10 points).