Suppose that you have $5,500 after-tax money to invest. Your ordinary tax rate is 37%, and capital gain/dividend tax rate is 20%. You have two options. Option 1: invest in a nondeductible IRA. The investment is not deductible, you earn 10% pretax return per year, and pay tax at ordinary income tax rates on earnings after n years. Option 2: invest in preferred stock. The investment is not deductible, you earn a 10% dividend yield (pretax) per year, and pay tax at dividend tax rates every year. a) Which option do you prefer if your investment horizon is 20 years (n=20)? b) Which option do you prefer if your investment horizon is 40 years? c) As of 2023, if your modified adjusted gross income is greater than $153,000 you cannot contribute to deductible traditional IRA or Roth IRA. You go to an investment advisor. He tells you the following: "well... you've exceeded the income limits for deductible traditional IRA and Roth IRA. But you should still contribute to a nondeductible IRA, because you get tax-deferral benefits from it. It will be better than other investment options out there." Comment on this investment advice.