Gainey Resources purchased $\backslash (\backslash$$ $100,000\backslash )$ worth of $\backslash (8\backslash \%,\backslash$$ $1,000\backslash )$ par value, $10-$year term bonds from Camarena Company on July $18$ of Year $1,$ for $\backslash (\backslash$$ $103,200\backslash ).$ Beginning in Year $3,$ Camarena has been unable to pay their bond interest payments, and the market price of the bonds has continued to drop. In Year $4,$ the market price of the bonds was $\backslash (\backslash$$ $65,700\backslash ).$ After testing, Gainey decided that they would likely never recover more than $\backslash (80\backslash \%\backslash )$ of their initial investment. According to Gainey, these bonds

should be amortized more rapidly than normal.

have suffered impairment.

should be written off completely.

have suffered unrecoverable loss.