Issuer	Price
Western	$1,100
Eastern	$1,500

Westerns bonds were issued 8 years ago with a maturity date of 40. The bond has a coupon rate of 14% and pays interest semiannually. Easterns bonds were issued 9 years ago with a maturity date of 40 years. The bond has a coupon rate of 16% and pays interest annually.

Required: If the yield on similar bonds is approximately 12% which bond should Susan invest in?

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