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Clabber Company has bonds outstanding with a par value of $ 1 0 5 , 0 0 0 and a carrying value of $ 1

Clabber Company has bonds outstanding with a par value of $

105, 000

and a carrying value of $

100, 300 .

If the company calls these bonds at a price of $

97, 500,

the gain or loss on retirement is:

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