A Company Has Bonds Outstanding with a Par Value of $600,000.The

Multiple Choice

A company has bonds outstanding with a par value of $600,000.The unamortized discount on these bonds is $3,000.The company retired these bonds by buying them on the open market at 98.What is the gain or loss on this retirement?

A) $0 gain or loss
B) $9,000 gain
C) $9,000 loss
D) $14,500 gain
E) $14,500 loss