(Photo Credit: Joe Raedle/Getty Images| Taco Bell)

Taco Bell launched a new ad today aimed pointedly at fans of the McDonald's breakfast menu, showing a stuck-in-the-'80s dude giving up his beloved Egg McMuffin in favor of Taco Bell's new Waffle Taco, all to the tune of "Old Macdonald Had a Farm."

McDonald's struck back by offering free coffee for a few weeks. See how we break down the battle of the fast-food breakfast below.

Battle of the Breakfast: McDonald's and Taco Bell

McDonald's Restaurant Taco Bell

Egg McMuffin Famous Breakfast Items Waffle Taco

10 Number of Menu Items 7

2.80 Sausage Egg McMuffin Price $1.99 for Waffle Taco

Eggs Between Two Griddle Cakes Creative Use of Eggs Eggs in a Waffle Taco

Ronald McDonald Mascot Chihuahua