Tonya, who lives in california, inherited a $100,000 state of california bond in 2019. her marginal federal tax rate is 35%, and her marginal state tax rate is 5%. the california bond pays 3.3% interest, which is not subject to california income tax. she can purchase a corporate bond of comparable risk that will yield 5.2% or a u. s. government bond that pays 4.6% interest. hint: for state taxes, assume tonya itemizes her deductions.

Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)