ou iube Maps Translate d. $100,000 Clear my choice On January 1, 2014 X Corp issues a $ 100,000, 5 year, 10% bond. Interest is paid annually. Assume that the market rate of interest on January 1, 2014 was 8 percent. On December 31, 2016 the bond was extinguished for 102. Calculate the gain/loss on extinguishment. Assume that the effective interest method is used for bond amortization. Select one: O a. loss $ 22,617 O b. loss $16,266 7 O c. loss $ 33,942 O d. gain $1,567