Nickel Inc. bought $500,000 of 3-year, 8% bonds as an investment on December 31, 2017 for $540,000. The investment receives interest annually and Nickel uses straight-line amortization. On May 1, 2018, the issuer retires $100,000 of the bonds at 119. As a result of the retirement, Nickel will report a: (Do not round intermediate calculations and round final answer to nearest whole dollar).

A) $20,000 gain

B) $20,000 loss

C) $11,889 gain

D) $116,333 loss