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The face value of Ace Hardware Company's outstanding bonds is $400,000 and unamortized premium is $20,000. The company calls 50% of the outstanding bonds at
The face value of Ace Hardware Company's outstanding bonds is $400,000 and unamortized premium is $20,000. The company calls 50% of the outstanding bonds at a price of $205,000. What is the gain or loss on retirement of bonds? a. $5,000 loss b. $25,000 gain c. $5,000 gain d. $25,000 loss
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