(Answered) Question - on january 1 2016 doty co redeemed its 15-year

Accounting

Question - On January 1, 2016, Doty Co. redeemed its 15-year bonds of $2,500,000 par value for 101. They were originally issued on January 1, 2012 at 94 with a maturity date of January 1, 2017. The bond issue costs relating to this transaction were $25,000. Doty amortizes discounts, premiums, and bond issue costs using the straight-line method. What amount of loss should Doty recognize on the redemption of these bonds? (Ignore taxes.)

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