Calculate The Number Of Months Of The Insurance Policy 548430

XYZ Company records its adjusting entries at the end of every month. The following accounts were taken from the adjusted trial balance of XYZ Company at January 31, 2007:

Prepaid Insurance $5,330
Insurance Expense $ 410

The prepaid insurance shown above relates to a policy that, when purchased, was a 2-year policy. Calculate the number of months of the insurance policy that have expired (i.e., been used up). Assume XYZ Company has a year-end of December 31.