Paul has saved $20,000, and his required annual rate of return is 4%. He is now considering the following investment options: (i) 5-year Time deposit with annual interest rate 3%. (ii) A 5-year Bond with current selling price of $1,000 per bond. Face value of the bond is $1000. The annual coupon of the bond is $40. (iii) Stock of a listed company with current selling price of $100 per share. The expected annual dividend is $7 per share and the expected market price of the stock after 5 years will be $110 per share. (iv) To set up an investment portfolio which consists of 40% investment in Bond and the rest of the investment in stock. Which investment option should he choose? Show your steps. Required: (1) Should he invest in 5-year time deposit? Why? (11 marks) (2) Should he invest in 5-year bond? Why? (13 marks) (3) Should he invest in stock? Why? (13 marks) (4) Should he invest in this portfolio? Why? (8 marks) (5) If he can only choose among the above FOUR options, which one should he choose? Why