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On January 1, 2009, Cardinal Corporation issued 5% 25 year bonds at par and used the $12,000,000 proceeds to finance the construction of a new

On January 1, 2009, Cardinal Corporation issued 5% 25 year bonds at par and used the $12,000,000 proceeds to finance the construction of a new plant. On January 1, 2019, the company acquired the bonds on the open market for $11,500,000. Assuming that Cardinal is neither bankrupt nor insolvent, what does the acquisition and retirement of the bonds results in

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