Homework Answers
Cost of bonds = $76 million
Value of bonds on December 31, 2021 = $69 million
Sale price of bonds on October 3, 2022 = $88 million
Gain on sale of bonds = Sale price of bonds on October 3, 2022 - Value of bonds on December 31, 2021
= 88 - 69
= $19 million
Third option is the correct option.
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