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ourdes Corporation's 11% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 15 years, are callable 3 years from today at $1,025. They

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ourdes Corporation's 11% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 15 years, are callable 3 years from today at $1,025. They sell at a price of $1,136.97, and the yield curve is flat. Assume that interest rates are expected to remain at their current ievel. . What is the best estimate of these bonds' remaining life? Round your answer to the nearest whole number. years

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