The 1305 error is a disk read error and is usually associated with a dirty or damaged disk. I would suggest an examination of the media and a gentle cleaning. If this doesn't work and the disk is obviously scratched it may be possible to use a CD polisher (available in most electronics sections of department stores) to restore its functionality. I also would open the CD drive and look inside with a flashlight to see if any lint or dust can be seen. If there is some then you might give it a spritz with a can of compressed "air."
If this doesn't work you might try here:
There may be other "fixes" but having never received this error I can only refer you again to Microsoft:
Now for a rant:
One thing I have noticed in teaching, especially with the MP3 generation, is an almost blatant disregard for the condition of damageable media. I can't recall the number of CDs and DVDs I've seen held with the readable media firmly pinched between a greasy thumb and finger, or the times I've seen bare disks thrown in knapsacks, stuck in pockets or dropped on the floor and wiped "clean" on a sleeve or pants leg. At the end of the semester, most of my student's disks began to look like someone had taken a wire brush to them. Some damage can be tolerated with a music CD or video DVD but it sometimes only takes a single bit of unreadable data to corrupt a computer software installation.