146. On January 1 of Year 1, Congo Express Airways issued $5,300,000 of 7%, bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $4,895,000 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized using the straight-line method at a rate of $13,500 every 6 months. The life of these bonds is:

Multiple Choice

• 36 years

• 30 years.

• 39 years.

• 15 years.

• 10 years.