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A company has bonds with a principal value of $1,000,000 outstanding. The unamortized premium on the bonds is $12,000. The company redeemed the bonds at

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A company has bonds with a principal value of $1,000,000 outstanding. The unamortized premium on the bonds is $12,000. The company redeemed the bonds at 101. What is the company's gain or loss on the redemption? $12,000 gain $2,000 loss $14,000 loss $2,000 gain $12,000 loss

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