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(4 Points) Assume that on January 1, 2022, Logging Camp, Inc., sells $800,000, 6-year, 12% bonds at 103 with interest payable on January 1 of

(4 Points) Assume that on January 1, 2022, Logging Camp, Inc., sells $800,000, 6-year, 12% bonds at 103 with interest payable on January 1 of each year. Further suppose on December 31, 2022, Logging Camp redeems its bond issue at a price of $790,000. 5. Calculate the amount of any gain or loss on the redemption date

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