Riverbed is a new technology start-up firm that is looking to grow quickly. While the company has secured investors who have already purchased equity, additional funds are needed to pay for the development of a new application that Riverbed wants to bring to market. One of the existing investors approached the management team of Riverbed and offered to purchase a new convertible bond from Riverbed but wanted very favourable conversion terms and a 8% coupon paid semi-annually. The company needs $2,990,000 to cover all the software development costs along with additional hardware that is needed to support the project. It is estimated that the application will take 1 year to build and 5 years to generate enough excess cash flow to pay back the bond. The market rate for similar debt is 6%. Riverbed is following IFRS. (a) What should the term of the bond be, based on the information above? The term of the bond years