Nickel Inc. bought $500,000 of 3-year, 7% bonds as an investment on December 31, 2020 for $535,000. The investment receives interest annually and Nickel uses straight-line amortization. On May 1, 2021, the issuer retired $100,000 of the bonds at 111. As a result of the retirement, Nickel will report a: (Do not round intermediate calculations and round your final answer to nearest whole dollar.) Multiple Choice $20,000 gain. $15,000 loss. $108,667 loss. $4,778 gain. Save & Exit On June 30, 2021, Moran Corporation issued $11.5 million of its 10% bonds for $10.4 million. The bonds were priced to yield 12%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021? Multiple Choice $55,500. $49,000. $78,000. $47,500