Question $1$

Lourdes Corporation's $13\%$ coupon rate, semiannual payment, $$1,000$ par value bonds, which mature in $15$ years, are

callable $6$ years from today at $$1,025.$ They sell at a price of $$1,344\mathrm{.}38,$ and the yield curve is flat. Assume that interest rates

are expected to remain at their current level.

What is the best estimate of these bonds' remaining life? Round your answer to two decimal places. Blank $1$ years.