Calculating Gains and Losses on Early Retirement of Debt The data below pertain to bonds outstanding at 2020 year-end. For each of the following outstanding bonds, determine whether the company would record a gam or a loss if it decided to retire the bonds at the end of fiscal 2020. Calculate the amount of gain or loss Note: Use a negative sign to indicate a loss. Firm 1 Face Value Premium (Discount) Fair Value Gain (loss) on Early Retirement $450,000 Firm 2 1,000,000 $42,300 $502.189 5 169,034) 947,482 $ Firm 3 Firm 4 250.000 500,000 244.893 $ 2,033 498,574 $