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Nickel Inc. bought $500,000 of 3-year, 10% bonds as an investment on December 31, 2015 for $550,000. Nickel uses straight-line amortization. On May 1, 2016,
Nickel Inc. bought $500,000 of 3-year, 10% bonds as an investment on December 31, 2015 for $550,000. Nickel uses straight-line amortization. On May 1, 2016, $100,000 of the bonds were redeemed at 118. As a result of the retirement, Nickel will report (Do not round intermediate calculations and round final answer to nearest whole dollar.): rev: 02_04_2016_QC_CS-40871 $30,000 loss. $9,111 loss. $9,111 gain. $20,000 gain.
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