Carys broker has suggested that he invest in bonds of one of the following companies:

Issuer	Price
Paint Products	$1,500
Metal Products	$1,200

Paintss bonds were issued 10 years ago with a maturity date of 30. The bond has a coupon rate of 14% and pays interest semiannually.

Metals bonds were issued 5 years ago with a maturity date of 25 years. The bond has a coupon rate of 13% and pays interest annually.

Required: If the yield on similar bonds is approximately 10% which bond should Cary invest in? Show all calculations