The Following Information Pertains to Questions

The following information pertains to questions
Duff Inc.owns 75% of Paddy Corp.and uses the Equity Method to account for its investment.Paddy purchased $120,000 worth of Duff's 12% par value bonds on January 1,2001 for $100,000,when Duff's bond liability consisted of $240,000 par of 12% Bonds maturing on January 1,2011.There was an unamortized bond discount of $20,000 attached to the bonds on that date.Interest payment dates are June 30 and December 31 each year.Straight line amortization is used.Both companies have a December 31 year end.Intercompany bond gains and losses are to be allocated to each company.During 2001,Paddy earned a net income of $80,000 and paid dividends of $20,000
-What amount would be shown on Duff's 2001 Consolidated Statement of Financial Position under bonds payable?

A) $220,000
B) $112,000
C) $110,000
D) $111,000