Test #3 March 24, 2018 Theory & Problems Student Name The complete test is due back in class on March 31, 2018 by 12:30 pm. No exception will be granted. 1. On June 30, 2017, ABC Co. had outstanding 10%, $3,000,000 face amount, 15-year bonds that matured on June 30, 2027. Interest is payable on June 30 and December 31. The unamortized balances in the bond discount and deferred bond issue costs accounts on June 30, $70,000 and $20,000, respectively. On June 30, 2017, ABC acquired all these bonds at 99 and retired them. 2017 were What net carrying value should be used in computing gain or loss on this early extinguishment of debt? What is the net overall gain or loss on this early extinguishment of debt