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Buffy, who lives in NY City, is in the 30% federal tax bracket and 6%...

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Accounting

Buffy, who lives in NY City, is in the 30% federal tax bracket and 6% state income tax bracket. Which of the following bonds that she is considering purchasing has the highest after-tax yield: (1) Treasury bond paying 4.7%. (2) Corporate bond paying 4.9%. (3) Louisiana Municipal bond paying 3.5%.

a. 1 only.

b. 2 only.

c. 3 only.

d. 1 and 3 are the same and have the highest after-tax yield.

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