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On January 1, Spot Inc, spends $618,00 to retire its callable bonds. On the call date, these bonds have a new carrying value of $582,000

On January 1, Spot Inc, spends $618,00 to retire its callable bonds. On the call date, these bonds have a new carrying value of $582,000 and face value of $600,000. What is the gain or loss on retirement?

-$36,000 loss

-$12,000 gain

-$12,000 loss

-$36,000 gain

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