Jeremiah Corporation purchased debt securities during 2018 and classified them as securities available for sale:

Jeremiah Corporation purchased debt securities during 2018 and classified them as securities available for sale:

Security       Cost     Fair Value 12/31/18

      a           40000            49000

     b            70000            66000

     c             28000           39000

All Declines are considered to be temporary. How much gain will report by Jeremiah Corporation on December 31, 2018, income statement relative to the portfolio?

A. 0

B. $16,000

C. 20,000

D. None of these are correct