In 2015, Benito Cooper planned to purchase 20 $1,000 bonds and hold them to maturity. He had two choices: The first was EM&E s at 104.5. The second was Standard of California 6s22 at 90. Benito purchased the issue that provided the higher rate of yield to maturity. Round yield to maturity percent values to one decimal place.

1. Which issue did Benito purchase?

2. How much income would Benito have earned monthly if Standard of California had been purchased? Do not round intermediate calculations. Round your answer to two decimal places.

3. If, in 2015, Benito had purchased EM&E 7 1/2 s 26 bonds at a price of 99.5, what would have been the yield to maturity? Do not round intermediate calculations. Round your answer to one decimal place.

4. Which company's bonds would be the better buy: EM&E at 99.5 or Standard of California?