Which of the following is true regarding tax$-$advantaged assets?

Multiple Choice

They are typically subject to excise taxes to account for their low explicit taxes.

A corporate bond is typically considered a tax$-$advantaged asset.

They are often subject to implicit taxes.

A corporate bond is typically considered a tax$-$advantaged asset. They are often subject to implicit taxes but they are not typically subject to excise taxes to account for their low explicit taxes.

None of the choices are correct.