Problem $12-02$

An $7\mathrm{.}9\%$ coupon bond issued by the state of Indiana sells for $$1,000.$ What coupon rate on a corporate bond selling at its $$1,000$ par value would produce the same after$-$tax return to the investor as the municipal bond if the investor is in:

a$.$the $15\%$ marginal tax bracket? Do not round intermediate calculations. Round your answer to two decimal places.

b$.$ the $25\%$ marginal tax bracket? Do not round intermediate calculations. Round your answer to two decimal places.

c$.$ the $35\%$ marginal tax bracket? Do not round intermediate calculations. Round your answer to two decimal places.