At December 31, 2023, the 10% bonds payable of Michelle Inc. had a carrying value of $839800. The bonds, which had a face value of $884000, were issued at a discount to yield 12%. The amortization of the bond discount had been recorded using the effective interest method. Interest was being paid on January 1 and July 1 of each year. The July 1, 2024, interest payment and discount amortization had been correctly recorded. On July 2, 2024, Michelle retired the bonds at 102. Ignoring income taxes, what is the loss that should be recorded on the early retirement of the bonds? O $17680 $49504 $61880 $55692