Question 31 Current Attempt in Progress Crane Company received proceeds of $200880 on 10-year, 7% bonds issued on January 1, 2016, The bonds had a face value of $216000, pay interest annually on January 1, and have a call price of 103. Crane uses the straight-line method of amortization. Crane Company decided to redeem the bonds on January 1,2018. What amount of gain or loss would Crane report on its 2018 income statement? $16576 loss $18576 gain $18576 loss $16576 gain Attempts: O of 1 used Check Answer Save for Later