Clabber Company has bonds outstanding with a par value of$108,000 and a carrying value of $102,100. If the company callsthese bonds at a price of $99,000, the gain or loss on retirementis:

• $5,900 loss.

• $3,100 gain.

• $9,000 loss.

• $3,100 loss.

• $5,900 gain.