Beonce Company received proceeds of [tex][tex]$188000 on 10-year, 6% bonds issued on January 1, 2025. The bonds had a face value of
$[/tex][/tex]200000, pay interest annually on January 1, and have a call price of 101. Beonce uses the straight-line method of amortization.
Beonce Company decided to redeem the bonds on January 1, 2027. What amount of gain or loss would Beonce report on its 2027
income statement?
