John's broker has suggested that he invest in bonds of one of the following companies: Northern's bonds were issued 5 years ago with a maturity date of 20. The bond has a coupon rate of 15% and pay's interest semiannually. Southern's 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 pond should John invest in? Show all calculations