Bowen Company has outstanding Bonds Payable, with a par value of $120,000, and carrying value of $116,800. If Bowen purchases the bonds in the open market at a price of 98.0 and retires them, which of the following is true? Select one: A. Bowen will recognize a gain of $800. B. Bowen will recognize a loss of $3,200. C. Bowen will recognize a gain of $3,200. D. Bowen will recognize a loss of $800