The Viper retires a $$50\mathrm{.}7$ million bond issue when the carrying value of the bonds is $$53\mathrm{.}0$ million, but the market value of the bonds is $$47\mathrm{.}3$ million. The retirement will include:

Multiple Choice

a gain of $$5\mathrm{.}7$ million.

No gain or loss on retirement.

a loss of $$5\mathrm{.}7$ million.

an increase in cash of $$53\mathrm{.}0$ million.

Prev

$2$ of $42$

Nnext