On January 1 of Year 1, Drum Line Airways issued $3,500,000 of par value bonds for $3,200,000. The bonds pay
On January 1 of Year 1, Drum Line Airways issued $3,500,000 of par estimate obligations for $3,200,000. The obligations pay
profit semiannually on January 1 and July 1. The lessen reprove of profit is 7% period the communicate reprove of profit for concordant obligations is 8%. The obligation reward or remittance is entity amortized using the straight-line rule at a reprove of $10,000 every six months.
The estate of these obligations is:
a. 15 years.
b. 30 years.
c. 26.5 years.
d. 32 years
e. 35 years.