Discount$-$Mart issued ten thousand $$1,000$ bonds on January $1,2019.$ The bonds have a $10-$year term and pay interest semiannually on June $30$ and December $31.$ This is the partial bond amortization schedule for the bonds.

Payment

cash

Effective

ncrease $10$

balance

Outstanding

Balance

$8,518,215$

$300,000$

$349,247$

$49,247$

$8,567,462$

$300,000$

$351,266$

$51,266$

$8,618,728$

$300\mathrm{.}000$

$353,368$

$53,368$

$8,672,096$

$300,000$

$1.$ What is the interest expense on the bonds in $2020?$

$2.$ On February $1,2019,$ Pat Weaver Inc. $($PWI$)$ issued $8\%,$ $$1,000,000$ bonds for $106\mathrm{.}5.$ PWI retired all of these bonds on January $1,2020,$ at $103.$ Unamortized bond premium on that date was $$47,200.$ How much gain or loss should be recognized on this bond