which is false??

Ms. Lenz has $100,000 in an investment paying 9% annual interest. Her marginal tax rate is 25%. Which of the Ms. Lenz's annual before-tax cash flow from this investment is $9,000. If the interest is tax-exempt, Ms. Lenz's annual after-tax cash flow is $9,000. If the interest is taxable, Ms. Lenz's annual after-tax cash flow is $6,750. None of the above is false