On January 1, 2020, MW Industries retired some bonds, with a principal value of $ 700,000 and a fixed rate of 12%, when the book value of said bonds on the books was $ 676,288. The price paid to the bondholder on withdrawal was $ 685,000. The bonds were issued at a time when the market rate of return was 14%. As a consequence of this event, a

A. early withdrawal gain on bonds (early extinguishment) of $ 8,712. b. loss due to early withdrawal on bonds (early extinguishment) of $ 8,712. c. loss due to early withdrawal on bonds (early extinguishment) of $ 23,712. d. early termination gain on bonds (early extinguishment) of $ 23,712.