A stockbroker has proposed two investments in low rated corporate bonds paying high interest rates and selling at steep discounts (junk bonds). The bonds are rated as equally risky and both mature in 15 years.

Bond	Stated Value	Annual Interest Payment	Current Market Price with Commission
Gen Dev	$1000	$72	$480
RJR	1000	105	630

a.) Construct a choice table for interest rates from 0% to 100%.

b.) Which, if any, of the bonds should you buy if your MARR is 20%?

Please use Microsoft Excel to answer each part. Label each part accordingly.