Markel Inc

Markel Inc. has bonds outstanding during a year in which the general (risk-free) rate of interest has not changed. Markel elected the fair value option for the bonds upon issuance. What will the company report for the bonds in its income statement for the year?

A) Interest expense and a gain.
B) Interest expense and a loss.
C) A gain and no interest expense.
D) Interest expense and no gain or loss.

Correct Answer:

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