Answer : 14 Years
Discount on bonds Payable = $3,600,000-$3,306,000 = 294,000
Amortization of Discount on Every 6 Months = 10,500
Total Payment Required = 294,000 /10500 = 28
Life of the Bond = 28/2 = 14 Years (Answer)
On January 1 of Year 1, Congo Express Airways issued $3,600,000 of 7%, bonds that pay...
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