At December 31, 2019 the following balances existed on the books of Rentro Corporation: Bonds Payable $7,000,000 Discount on Bonds Payable 900,000 If the bonds are retired on January 1, 2020, at 102, what will Rentro report as a loss on redemption? a. $900,000 b. $1,050,000 c. $1,040,000 d. $140,000 e. None of the above