16. Zambrano Corp. decided to go into the market to repurchase bonds before their due date. The following are the balances of the accounts on the date of the retirement: Bonds Payable $5,000,000 Bond Discount $30,000 Unamortized Bond Issue Cost $45,000 Cash Paid for Bonds $4,900,000 What is the gain or loss on the early extinguishment of the bonds? A. $85,000 loss B. $25,000 loss C. $25,000 gain