Question 9 5 points p Corporation owns 90% of the outstandng common stock of S Company. OnJanuary 1. 2014 s company issued SS0000 . 12-teo-year bonds. 2016.P Corporaton paid $416,00 or s ompany bonds with a par value of $40000 and a carryng value of $395,600 Both companies use the straight-Ine method to amortize bond premiums and discounts.P Corporation accounts for the investment using the cost method of accounting The total gain or loss on the constructive retirement of the debt to be reported in the 2016 consolidated income statement is OA $20.400 loss 8.518,400 gain. C. S20.400 gain. D.518.400 loss