The long-term liability section of Mayflower Digital Corporations balance sheet as of December 31, 2017, included 4% bonds having a face amount of $500,000 and a remaining discount of $56,478. Disclosure notes indicate the bonds were issued to yield 6%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Mayflower Digital retired the bonds at 102 before their scheduled maturity. What is the amount of gain (loss) on early extinguishment of bonds?

a) -(63,172)

b) 45,396

c) 55,432

Please show work