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Bonds Payable has a balance of $ 1 , 0 4 1 , 0 0 0 and Discount on Bonds Payable has a balance of

Bonds Payable has a balance of $1,041,000 and Discount on Bonds Payable has a balance of $12,492. If the issuing company redeems the bonds at 98, what is the amount of gain or loss on redemption?
a. $8,328 gain
b. $8,328 loss
c. $12,492 loss
d. $12,492 gain
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