Several years ago, Timmins Inc. issued $250,000 of 10-year bonds at a discount. The company decides to redeem the bonds at 98 when the amortized cost is $248,000. Would there be a gain or a loss on redemption of the bonds, and how much would it be? Select answer from the options below a gain on redemption of $2,000 a loss on redemption of $3,000 a gain on redemption of $3,000 a loss on redemption of $2,000