Carla Vista Co. received proceeds of $958000 on 10-year, 7% bonds issued on January 1, 2019. The bonds had a face value of $1016000, pay interest annually on December 31, and have a call price of 105. Carla Vista uses the straight-line method of amortization. Carla Vista Co. decided to redeem the bonds on January 1, 2021. What amount of gain or loss would Carla Vista report on its 2021 income statement?

$97200 gain

$97200 loss

$46400 gain

$46400 loss