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On February 1, 20X1, Island Corp. issued a new bond and elected to carry it on the balance sheet at Fair Value. The bond pays

On February 1, 20X1, Island Corp. issued a new bond and elected to carry it on the balance sheet at Fair Value. The bond pays a semi-annual coupon of 9% and matures in 20 years. On February 1, 20X1 the market interest rate was 68%. One year later, it was 6%. What would be the unrealized gain or loss recorded on the income statement

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