You want to purchase bonds with the total face value of $500,000 at the beginning of the 2023 fiscal year and hold them for several years. These bonds pay 6% coupon. Your marginal tax on interest income and capital gains is 30%, and your effective marginal tax rate on dividend income is 18%. Given this information, what is your best estimate for the realized after-tax income at the end of the 2023 fiscal year?

$30,800

$25,200

$21,000

$33,600