On January 1 of Year 1, Congo Express Airways issued $5,200,000 of 7%, bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $4,836,000 and the market rate of interest for similar bonds is 9%. The bond premium or discount is being amortized using the straight-line method at a rate of $13,000 every 6 months. The life of these bonds is: Multiple Choice 14 years 11 years 37 years 28 years