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At December 31, 2017 the following balances existed on the books of Vaughn Manufacturing: Bonds Payable $6990000 Discount on Bonds Payable 984000 Interest Payable 172000

At December 31, 2017 the following balances existed on the books of Vaughn Manufacturing: Bonds Payable $6990000 Discount on Bonds Payable 984000 Interest Payable 172000 If the bonds are retired on January 1, 2018, at 103, what will Vaughn report as a loss on redemption?

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