At December 31, 2020, the 12% bonds payable of Leather Corp. had a carrying value of $ 312,000. The bonds, which had a face value of $ 300,000, were issued at a premium to yield 10%. Leather uses the effective interest method of amortization of bond premium. Interest is paid on June 30 and December 31. On June 30, 2021, Leather retired the bonds at 104 plus accrued interest. The loss on retirement, ignoring taxes, is $ 2,400 $ 12,000 $ 3,720. Oso