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If the carrying value of a $100,000 bond is $106,000 and it is extinguished at 105, there is a gain on early extinguishment of debt.

If the carrying value of a $100,000 bond is $106,000 and it is extinguished at 105, there is a gain on early extinguishment of debt. True Fale

If the carrying value of a $100,000 bond is $106,000 and it is extinguished at 105 , there is a gain on early extinguishment of debt. True

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