You are having a discussion with one of your clients regarding suitable investments. The client is in a high income tax bracket and has a high net worth as well. During the conversation your client mentions several investments that he is thinking about that might be beneficial to him now. Of those below, which would be the best recommendation?
A) A real estate investment trust
B) Municipal bonds
C) Non-investment-grade corporate bonds
D) A corporate blue-chip balanced mutual fund
Answer: B) Municipal bonds