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On January 1, 2010, Newberg issued $200,000 of ten-year 8% bonds at 98. These bonds were callable at 102 anytime after three years. Straight-line amortization was used. On January 1, 2014, a new bond issue was sold and the old bonds were called. What was the loss on bond retirement?

Select one:

a. $8,000

b. $4,400

c. $2,400

d. $6,400

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