Suppose a foreign investor who holds tax-exempt Eurobonds paying 10.50% is considering investing in an equivalent-risk domestic bond in a country with a 28% withholding tax on interest paid to foreigners.If 10.50% after-tax is the investor's required return,what before-tax rate would the domestic bond need to pay to provide the required after-tax return?
A) 15.46%
B) 16.33%
C) 16.92%
D) 12.83%
E) 14.58%