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Nickel Inc bought $400,000 of 3 year 8% bonds as an investment on December 31 2020for $432,000. The investment receives interest annually and Nickel uses

Nickel Inc bought $400,000 of 3 year 8% bonds as an investment on December 31 2020for $432,000. The investment receives interest annually and Nickel uses straight line amortization . On May 1 2021 the issuer retired $80,000. of the bond of 120. As a result of the retirement, Nickel will report a

$93,867 Loss

$16,000 Loss

$10,311 Gain

$16,000 Gain

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