culating 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 $1$ $$360,000$ $$33,840$ $$401,751$ Answer

Firm $2800,000(55,227)757,986$ Answer

Firm $3200,000-195,914$ Answer

Firm $4400,0001,626398,859$ Answer