Question: E) Fair value option (6 points) Ammar Corporation commonly issues long term notes payable to its various lenders Ammar has elected to use the fair

E) Fair value option (6 points) Ammar Corporation commonly issues long term notes payable to its various lenders Ammar has elected to use the fair value option for the long term notes issued to Palestine's bank and has the following data related to the carrying and fair value for these notes. December 31, 2016 Carrying Value $84,000 Fair Value $81,000 ($3,000) 10 loos December 31, 2017 64,000 67,000 December 31, 2018 58,000 $4,000 P -$3000 gain (40) 1 Calculate the amount of Unrealized holding gain/loss- Income for 2016, 2017 & 2018, Use the appropriate code. T Gain G Loss L Use the table on the cover page to fill in your answers

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