If the market rate is less than the bond's stated rate (contractual rate) the bonds will sell: Select one: O a. For face value O b. For more than face value c. For less than face value O d. For a discount X company is redeeming its bonds before the maturity date for $505,000. All prior interest has been paid prior to the date of redemption. Immediately before the redemption the balances in the accounts are Bonds Payable $500,000; Premium on Bonds Payable $10,000. X will have a: Select one: O a. $5,000 gain on the redemption O b. $5,000 loss on the redemption O c. No gain or loss on the redemption O d. Gain of $10,000 on the redemption