7. Thank you in advance.

Fill in Blank. On October 1, 2019, Aries Claw Inc. (a calendar-year firm) issues 6,000 of corporate bond, each with face value $ 1,000, stated interest rate 8%, and maturity date set at Oct 1st, 2024. Interest is payable at each April 1st and Oct 1st after issuance date. Using effective interest rate method, Aries presents the following bond discount/premium amortization schedule: Cash Paid Interest Expense Amort. Discount/Premium October 1, 2019 April 1, 2020 October 1, 2020 $240.000 240,000 $276,834 278,676 $36,834 38,676 Carrying Value of Bonds $5,536,676 5,573,510 5,612,186 Suppose on May 1st, 2020, Aries wants to recall the bond at 102, what is the loss on bond early extinguishment? (Round your answer to the nearest dollar amount)