You are a financial advisor for a client evenly invested in both municipal and corporate bonds for the bond part of her portfolio. She expects to retire soon and her marginal tax rate will drop from 30% to 15%. She will not be increasing the overall share of bonds in her portfolio, and the muni's and corporates have similar risk. Separate from potential capital gains, you suggest she:

a. invest in more municipal bonds relative to the corporate/taxable ones

b. keep the share of municipal bonds in her portfolio about the same

c. invest in more corporate/taxable bonds relative to the muni's