Clabber Company has bonds outstanding with a par value of $$124,000$ and a carrying value of $$111,700.$ If the company calls these bonds at a price of $$107,000,$ the gain or loss on retirement is:

Multiple Choice

$$4,700$ gain.

$$4,700$ loss.

$$17,000$ loss.

$$12,300$ loss.

$$12,300$ gain.