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On February 1, 2017, Pat Weaver Inc. (PWI) issued 11%,$1,300,000 bonds for $1,600,000. PWI retired all of these bonds on January 1, 2018, at 102.

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On February 1, 2017, Pat Weaver Inc. (PWI) issued 11%,$1,300,000 bonds for $1,600,000. PWI retired all of these bonds on January 1, 2018, at 102. Unamortized bond premium on that date was $132,600. How much gain or loss should be recognized on this bond retirement? Multiple Choice \$o gain. $176,000 gain. $143,000 gain. $106,600 gain

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