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  3. the viper retires a $50.4 million bond issue when

The Viper retires a $50.4 million bond issue when the carrying value of the bonds...

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Question

Accounting

The Viper retires a $50.4 million bond issue when the carrying value of the bonds is $52.3 million, but the market value of the bonds is $47.3 million. The retirement will include:

Multiple Choice

an increase in cash of $52.3 million.

a gain of $5.0 million.

a loss of $5.0 million.

No gain or loss on retirement.

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