Bill is contemplating three different investments, each with the same amount of risk: A high$-$dividend stock that pays $8\mathrm{.}5$ percent dividends annually but has no appreciation potential. Taxable corporate bonds that pay $9\mathrm{.}7$ percent interest annually. Tax$-$exempt municipal bonds that pay $6$ percent interest annually. Assuming that dividends are taxed at $20$ percent and that Bill$$s marginal tax rate on ordinary income is $37$ percent, which investment should Bill choose