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Six years ago, a company issued $500,000 of 6%, eight-year bonds at a price of 95. The current carrying value is $493,750. The company retired

Six years ago, a company issued $500,000 of 6%, eight-year bonds at a price of 95. The current carrying value is $493,750. The company retired 50% of the bonds by buying them on the open market at a price of 102 and half. What is the amount of gain or loss on retirement of these bonds?

$9,375 gain

$9,350 loss

$9,375 loss

$8,350 gain

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