. Terry Tractors, Inc. has outstanding a $100,000, 10-year bond issue which was sold on anuary 1, 2004, at a price of $110,000. The following liability, shown below, appeared on the alance sheet on December 31, 2008. -onds payable ..................... Unamortized Premium ...... Carrying Value $100,000 4,000 $104,000 he firm calls the bonds at 106 on January 1, 2009. Which of the following is correct regarding he redemption of the bond? -) The gain on redemption of the bond is $6,240. -) The repurchase price is $110,240. -) The gain on redemption of the bond is $2,000. ) The loss on redemption of the bond is $2,000