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A $306,000 bond was redeemed at 103 when the carrying amount of the bond was $317,934. What amount of gain or loss would be recorded

A $306,000 bond was redeemed at 103 when the carrying amount of the bond was $317,934. What amount of gain or loss would be recorded as part of this transaction?

Select the correct answer.

loss on bond redemption of $2,754.

loss on bond redemption of $11,934.

gain on bond redemption of $11,934.

gain on bond redemption of $2,754.

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