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How much gain or loss should be recognized

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Question - On February 1, 2010, Pat Weaver Inc. (PWI) issued 9%, $1,400,000 bonds for $1,700,000. PWI retired all of these bonds on January 1, 2011, at 102. Unamortized bond premium on that date was $142,800. How much gain or loss should be recognized on this bond retirement?

$0 gain.

$126,000 gain.

$153,000 gain.

$114,800 gain.

Reference no: EM131778101

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