At December 31, 2014 the following balances existed on the books of Rentro Corporation: Bonds payable $1,380,000; interest payable $37,000. If the bonds are retired on January 1, 2015, for $1,530,000, what will Rentro report as a loss on extinguishment?

Select one:

a. $187,000

b. $113,000

c. $150,000

d. $37,000