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What amount gain will report

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Saleem Co. has outstanding $100 million of 7% bonds, due in 7 years, and callable Page 2 of 5 at 104. The bonds were issued at par and are selling today at a market price of 94.

Question i. If Saleem Co. retires $10 million of these bonds by purchasing them from bondholders at current market price, what amount (gain/loss) the company will report:

Question ii. If Saleem Co. calls $10 million of these bonds what amount (gain/loss) it will report:

Reference no: EM132569265

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