Step 1: Start from the radioactive decay law.
\[
N(t)=N_0\,e^{-\lambda t},
\]
where $\lambda$ is the decay constant. By definition of the half-life $t_{1/2}$,
\[
N(t_{1/2})=\frac{N_0}{2}.
\]
Step 2: Derive the half-life formula.
\[
\frac{N_0}{2}=N_0 e^{-\lambda t_{1/2}}
\ \Rightarrow\
\frac{1}{2}=e^{-\lambda t_{1/2}}
\ \Rightarrow\
\ln\!\left(\frac{1}{2}\right)=-\lambda t_{1/2}
\ \Rightarrow\
t_{1/2}=\frac{\ln 2}{\lambda}.
\]
Step 3: Insert the numerical value with correct units.
\[
\lambda = 1.21\times 10^{-4}\ \text{year}^{-1},\qquad
\ln 2 = 0.693147\ldots
\]
\[
t_{1/2}=\frac{0.693147}{1.21\times 10^{-4}}
= 5728.4876\ \text{years}.
\]
Step 4: Round to the requested precision and verify.
Nearest integer $\Rightarrow\ 5728$ years.
Check by back-substitution:
\[
e^{-\lambda t_{1/2}}=e^{-1.21\times 10^{-4}\times 5728.49}
=e^{-0.69315}\approx 0.5000,
\]
which matches the definition of half-life.
Alternative (log$_{10}$) route (optional).
Using $\ln 2 = 2.302585\times\log_{10}2$ with $\log_{10}2=0.30103$ also gives
\[
t_{1/2}=\frac{2.302585\times 0.30103}{1.21\times 10^{-4}}\approx 5.728\times 10^{3}\ \text{years}.
\]
Final Answer:\quad \[ \boxed{5728\ \text{years}} \]
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