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Please answer the following question correctly. Thanks! On 1/1/X1, Redmond Corp. pays $45,000 to retire its bonds early. At the time of the retirement, the

Please answer the following question correctly. Thanks!

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On 1/1/X1, Redmond Corp. pays $45,000 to retire its bonds early. At the time of the retirement, the bonds have a face value of $42,000 and a carrying value of $40,000. What should be the amount of gain or loss, if any, the company will record as a result of the early retirement

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