On January 1, 2022, Tony Orlando Industries had outstanding $1,000,000 of 12% bonds with a book amount of $966,130. The indenture specified a call price of $981,000. The bonds were issued previously at a price to yield 14%. Tony Orlando called the bonds (retired them) on July 1, 2022. What is the amount of the loss on early extinguishment? a. $0. b. $6,932. c. $7,241. d. $7,629

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