75 On January 1 of Year 1, Congo Express Airways issued $5.000.000 of 7%, bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $4,520,000 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 $12.000 every 6 months. The life of these bonds is: Multiple Choice O 20 years. 13 years. ooo 40 years. 42 years. O 38 years