2015, immediately after making the second semiannual interest payment. To retire the bonds, Powell peys the market price of 98 On January 1, 2018, Powel Company issued 5350,000 of 10 % , Sive-year bonds peyable at 102. Powell Company has extra cash and wishes to retire the bonds payable on January Read the euirements. (Assume bonds payable are amortized using the straight-line amortization method) Requirements Raquirament 1. What is Powall Company's carrying amount of the bonds payahle on t arstiramant date? The carrying amount of the bonds payable on reirement date is S . What is Powell Company's carying amount of the bonds payable on the Haw much cash must Powel Compary pay to retire the bunds payable? Compute Powell Company's gain or loss on t payabla retirement of the bonds Ptint Done