Charlie Company's Bonds Payable Has a Balance of $2,700,000 and Discount

Charlie Company's Bonds Payable has a balance of $2,700,000 and Discount on Bonds Payable has a balance of $33,750.
If the issuing corporation retires the bonds at a market price of 97, what is the amount of gain or loss on retirement?

A) $33,750 loss
B) $33,750 gain
C) $47,250 loss
D) $47,250 gain