Parent owns 70% of subsidiary. Subsidiary has bonds payable to third parties with a book value of $6,000,000., net of unamortized premium. In 2020, parent decides to purchase all outstanding bonds from third parties for $6,400,000. What result is reported in the 2020 consolidated financial statements.

	a.	Consolidated loss on "retirement" of bonds of $280,000
	b.	Consolidated loss on "retirement" of bonds $400,000
	c.	Consolidated gain on "retirement" of bonds of $400,000
	d.	No gain or loss is reported in the consolidated totals
	e.	Consolidated gain on "retirement" of bonds of $280,000