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

Issuer	Price
Northern	$1,400
Southern	$1,500

Northerns bonds were issued 5 years ago with a maturity date of 20. The bond has a coupon rate of 15% and pays interest semiannually. Southerns bonds were issued 6 years ago with a maturity date of 25 years. The bond has a coupon rate of 12% and pays interest annually.

Required: If the yield on similar bonds is approximately 9% which bond should John invest in?