9. Warner Company issued $5,000,000 of 6%, 10-year bonds on one of its interest dates for $4,318,500 to yield an effective annual rate of 8%. The effective-interest method of amortization is to be used. At the end of the first year, if the company redeemed the bonds at 95, what would be the gain or loss on the redemption? a. Loss 386,020 b. Gain 636,020 C. Gain 431,500 d. Loss 250,000