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15-05-2023
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on january 1 of year 1, congo express airways issued $4,400,000 of 7%, bonds that pay interest semiannually on january 1 and july 1. the bond issue price is $3,994,000 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 $14,500 every six months. the life of these bonds is:

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