At December 31, 2020 the following balances existed on the books of Oriole Company: Bonds Payable $7030000 Discount on Bonds Payable 981000 Interest Payable 175000 If the bonds are retired on January 1, 2021, at 103, what will Oriole report as a loss on redemption?

A) $948000

B)$1366900

C)$1191900

D) $703000