Calculating Gains and Losses on Early Retirement of Debt Note: Use a negative sign to indicate a loss

Calculating Gains and Losses on Early Retirement of Debt The data below pertain to bonds outstanding at 2020 year-end. For each ofthe following outstanding bonds, determine whether the company would record a gain or a loss if it decided to retire the bonds at the end of fiscal 2020. Calculate the amount of gain or loss. Note: IJse a negative sign to indicate a loss. Face Value Premium (Discount) Fair Value 55021 89 g 47,482 244,893 498,574 Gain (loss) on Early Retirement Firm 3 Firm 4 S450,ooo 250,000 500,000 542300 (69,034) 2033