Todd has the opportunity to buy a municipal bond with a coupon of 4.0% or a corporate bond with a coupon of 6.0%. His marginal tax bracket is 35% and his average tax rate is 23%. What would you recommend? (Select the best response)

	A.	Buy the municipal bond because its fully taxable equivalent yield is 6.15%
	B.	Buy the corporate bond because its fully taxable equivalent yield is 9.23%
	C.	Buy the corporate bond because the fully taxable equivalent yield of the municipal bond is 5.19%, which is less than the 6.0% on the corporate bond
	D.	Buy the corporate bond because it has the higher coupon rate