On January 1 of Year 1, Congo Express Airways issued $4,900,000 of 7%, bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $4,463,000 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 $11,500 every 6 months. The life of these bonds is:

A. 39 years

B. 19 years

C. 43 years

D. 38 years

E. 13 years