On February 1 . 2015, Gaslight Corp issued 1 . percent, $2,000,000 face value, ten-year bonds for $2,234,000 plus accrued interest. The bonds are dated November 1 . 2014, and interest is payable on May 1 and November 1 . Gaslight reacquired all of these bonds at 102 on May 1 . 2018, and retired them. Unamortized bond premium on that date was $156,000 . Ignoring the income tax effect, what was
Gaslight's gain on the bond retirement?
a. $116,000
b. $194,000
c. $234,000
d. $236,000
A
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