At December $31,2024,$ the following balances existed on the books of Rentro Corporation:

Bonds Payable$$7,000,000$

Discount on Bonds Payable$980,000$

Interest Payable$168,000$

If the bonds are retired on January $1,2025,$ at $102,$ what will Rentro report as a loss on redemption?

Question $16$ options:

A$)$

$$945,000$

B$)$

$$1,288,000$

C$)$

$$1,120,000$

D$)$

$$700,000$