Question: CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 111 On its December 31, 2017 balance sheet, Crane Company reported bonds payable of $6080000.

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 111 On its December 31, 2017 balance sheet, Crane Company reported bonds payable of $6080000. The bonds had been issued at par. On January 2, 2018, Crane retired $3040000 of the outstanding bonds at par plus a call premium of $68000. What amount should Crane report in its 2018 income statement as loss on extinguishment of debt (ignore taxes)

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