What is the primary difference between an in-state 4.2% YTM Revenue Municipal Bond, a 2.65% YTM...

What is the primary difference between an in-state 4.2% YTM Revenue Municipal Bond, a 2.65% YTM U.S. T-Note, and a BB-Rated 6.72% YTM Corporate Debenture (assuming each has 8 years to maturity and Muni uses a tax-equivalent yield) in terms of tax treatment of coupon interest and default risk (how each is collateralized). Also, assume a marginal tax rate of 28%?

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