On January 1, 2018, Coates Company retired $750,000 of bonds by purchasing them in the open market at a price of 95. On the date of retirement, the bonds had a carrying value of $728,000. The retirement of the bonds will result in a A. gain of $15,500 B. gain of $37,500 C. loss of $15,500 D. loss of $37,500

the answer is A, why? I want the explanations, thank you!