On June 30, Year 7, King Co. had outstanding 9%, $5,000,000 face value bonds maturing on June 30, Year 9. Interest was payable semiannually every June 30 and December 31. On June 30, Year 7, after amortization was recorded for the period, the unamortized bond premium was $30,000. On that date, King acquired all its outstanding bonds on the open market at 93 and retired them. At June 30, Year 7, what amount should King recognize as gain before income taxes on redemption of bonds

For example, the upper right cell shows that if expresso advertises and beantown doesn't advertise, expresso will make a profit of $15 million, and beantown will make a profit of $2 million. assume this is a simultaneous game and that expresso and beantown are both profit-maximizing firms. if expresso decides to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if expresso decides not to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if beantown advertises, expresso makes a higher profit if it chooses . if beantown doesn't advertise, expresso makes a higher profit if it chooses . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? expresso will choose to advertise and beantown will choose not to advertise. expresso will choose not to advertise and beantown will choose to advertise. both firms will choose to advertise. both firms will choose not to advertise.