A ten-year AA-rated bond issued by Maplewood, NJ is priced to yield 2.325 percent and is exempt from Federal and New Jersey income tax. Consider an investor in the 35 percent Federal tax bracket and the (almost) 9 percent New Jersey state tax bracket. What would the minimum yield on a similarly-rated ten-year corporate bond have to be in order to make the investor choose it over the Maplewood bond? 1. 1.302% 2. 3.577% 3. 4.152% 4. 5.284%