Package 'ttf-mscorefonts-installer' has no installation candidate

I am having a Java based web application running in Amazon EC2 Ubuntu server. I use Jasper reports to generate some reports in PDF format. I built these reports using 'Jaspersoft Studio'

Now, when I try to generate reports, I get this error

net.sf.jasperreports.engine.util.jrfontnotfoundexception font 'Times New Roman' is not available to the jvm

So, I decided to install the Microsoft fonts. I typed,

sudo apt-get install ttf-mscorefonts-installer

It didn't work at all. Instead, it gave me the below notice

$ sudo apt-get install ttf-mscorefonts-installer
Reading package lists... Done
Building dependency tree
Reading state information... Done
Package ttf-mscorefonts-installer is not available, but is referred to by another package.
This may mean that the package is missing, has been obsoleted, or
is only available from another source

E: Package 'ttf-mscorefonts-installer' has no installation candidate

How can I solve this issue?

Update

My source.list contains below. am I safe to edit?

       ## Note, this file is written by cloud-init on first boot of an instance
## modifications made here will not survive a re-bundle.
## if you wish to make changes you can:
## a.) add 'apt_preserve_sources_list: true' to /etc/cloud/cloud.cfg
##     or do the same in user-data
## b.) add sources in /etc/apt/sources.list.d
## c.) make changes to template file /etc/cloud/templates/sources.list.tmpl
#

# See http://help.ubuntu.com/community/UpgradeNotes for how to upgrade to
# newer versions of the distribution.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty main
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty main

## Major bug fix updates produced after the final release of the
## distribution.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates main
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates main

## N.B. software from this repository is ENTIRELY UNSUPPORTED by the Ubuntu
## team. Also, please note that software in universe WILL NOT receive any
## review or updates from the Ubuntu security team.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty universe
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty universe
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates universe
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates universe

## N.B. software from this repository is ENTIRELY UNSUPPORTED by the Ubuntu
## team, and may not be under a free licence. Please satisfy yourself as to
## your rights to use the software. Also, please note that software in
## multiverse WILL NOT receive any review or updates from the Ubuntu
## security team.
# deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty multiverse
# deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty multiverse
# deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates multiverse
# deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates multiverse

## Uncomment the following two lines to add software from the 'backports'
## repository.
## N.B. software from this repository may not have been tested as
## extensively as that contained in the main release, although it includes
## newer versions of some applications which may provide useful features.
## Also, please note that software in backports WILL NOT receive any review
## or updates from the Ubuntu security team.
# deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-backports main restricted universe multiverse
# deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-backports main restricted universe multiverse

## Uncomment the following two lines to add software from Canonical's
## 'partner' repository.
## This software is not part of Ubuntu, but is offered by Canonical and the
## respective vendors as a service to Ubuntu users.
# deb http://archive.canonical.com/ubuntu trusty partner
# deb-src http://archive.canonical.com/ubuntu trusty partner

deb http://security.ubuntu.com/ubuntu trusty-security main

Here are two methods you can use to install the software.

Command line install

echo "deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty multiverse
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates multiverse
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-backports main restricted universe multiverse" | sudo tee /etc/apt/sources.list.d/multiverse.list 
sudo apt-get update
sudo apt-get install ttf-mscorefonts-installer

Easy install

Open ubuntu software center, click on Edit and select Software Sources from the dropdown menu.

Place a tick in the box for Software restricted by copyright or legal issues (multiverse).

You may be asked for a password.

When you are done, run the following commands:

sudo apt-get update
sudo apt-get install ttf-mscorefonts-installer

You have a tag 12.04 but your sources.list is for 14.04?

The package is in the multiverse repositories.

Edit your sources.list

sudo nano /etc/apt/sources.list

After your update in your question, simply remove the # in the front of each line starting with deb and with the entry multiverse

Here is the complete list based on your list file for a copy and paste

## Note, this file is written by cloud-init on first boot of an instance
## modifications made here will not survive a re-bundle.
## if you wish to make changes you can:
## a.) add 'apt_preserve_sources_list: true' to /etc/cloud/cloud.cfg
##     or do the same in user-data
## b.) add sources in /etc/apt/sources.list.d
## c.) make changes to template file /etc/cloud/templates/sources.list.tmpl
#

# See http://help.ubuntu.com/community/UpgradeNotes for how to upgrade to
# newer versions of the distribution.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty main
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty main

## Major bug fix updates produced after the final release of the
## distribution.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates main
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates main

## N.B. software from this repository is ENTIRELY UNSUPPORTED by the Ubuntu
## team. Also, please note that software in universe WILL NOT receive any
## review or updates from the Ubuntu security team.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty universe
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty universe
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates universe
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates universe

## N.B. software from this repository is ENTIRELY UNSUPPORTED by the Ubuntu
## team, and may not be under a free licence. Please satisfy yourself as to
## your rights to use the software. Also, please note that software in
## multiverse WILL NOT receive any review or updates from the Ubuntu
## security team.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty multiverse
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty multiverse
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates multiverse
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-updates multiverse

## Uncomment the following two lines to add software from the 'backports'
## repository.
## N.B. software from this repository may not have been tested as
## extensively as that contained in the main release, although it includes
## newer versions of some applications which may provide useful features.
## Also, please note that software in backports WILL NOT receive any review
## or updates from the Ubuntu security team.
deb http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-backports main restricted universe multiverse
deb-src http://us-west-2.ec2.archive.ubuntu.com/ubuntu/ trusty-backports main restricted universe multiverse

## Uncomment the following two lines to add software from Canonical's
## 'partner' repository.
## This software is not part of Ubuntu, but is offered by Canonical and the
## respective vendors as a service to Ubuntu users.
# deb http://archive.canonical.com/ubuntu trusty partner
# deb-src http://archive.canonical.com/ubuntu trusty partner

deb http://security.ubuntu.com/ubuntu trusty-security main

Do the same in /etc/cloud/templates/sources.list.tmpl

After that

sudo apt-get update
sudo apt-get install ttf-mscorefonts-installer

Special notes for Amazon EC2 Ubuntu server

1. Edit your /etc/cloud/cloud.cfg

   nano /etc/cloud/cloud.cfg
   

   and add

   apt_preserve_sources_list: true
   

2. Add additionally PPAs or non-Ubuntu sources in separate list files in the folder

   /etc/apt/sources.list.d
   

3. Make your changes in /etc/apt/sources.list in

   /etc/cloud/templates/sources.list.tmpl
   

   too, to survive a re-bundle.