Salem Company has outstanding $100 million of 7% bonds, due in 7 years, and callable at 104 . The bonds were issued at par and are selling today at a market price of 94. falem Company retires $10 million of these bonds by purchasing them from bondholders at current market price, the company will report: Multiple Choice A $700,000 gain. A $500,000 loss. Neither gains nor losses are recognized on early retirements of debt. A $600,000 gain