On January 1, 2020, Patterson Inc. issued $725,000 of 14 percent, five-year bonds payable at 102. Patterson has extra cash and wishes to retire all of the bonds payable on January 1, 2021, immediately after making the second semi-annual interest payment. Patterson uses the straight-line method of amortization. To retire the bonds, Patterson pays the market price of 98. a. What is Patterson's carrying amount of the bonds payable on the retirement date? b. How much cash must Patterson pay to retire the bonds payable? c. Compute Patterson's gain or loss on the retirement of the bonds payable. a. What is Patterson's carrying amount of the bonds payable on the retirement date? The carrying amount of the bonds payable on the retirement date is $ b. How much cash must Patterson pay to retire the bonds payable? To retire the bonds Patterson must pay $[. c. Compute Patterson's gain or loss on the retirement of the bonds payable. Patterson's v on the retirement of the bonds payable is s