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 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: Use a negative sign to indicate a loss. Face Value Premium (Discount) Fair Value Gain (loss) on Early Retirement Firm 1 $450,000 Firm 21 1,000,000 $42,300 (69.034) $502.189 947,482 Firm 3 250.000 244,893 5 Firm 4 500,000 2,033 498574 S