On January 1, 2009, Tiny Tim Industries had outstanding $1,000,000 of 12% bonds with a carrying amount

Question:

On January 1, 2009, Tiny Tim Industries had outstanding $1,000,000 of 12% bonds with a carrying amount of $966,130. The indenture specified a call price of $981,000. The bonds were issued previously at a price to yield 14%. Tiny Tim called the bonds (retired them) on July 1, 2009. What is the amount of the loss on early extinguishment?
A. $0.B. $6,932.C. $7,241.D. $7,629.