HARVARD had amortized only $5,000 of the discount. Required: 1. Calculate the gain or loss on the early redemption of the bonds. Enter the amount as positive number. Round your answer to the nearest whole dollar. 2. Calculate the gain or loss on the redemption assuming that the call provision is 99 instead of 102 . Enter the amount as positive number. Round your answer to the nearest whole 3. Select where the gain or loss should be presented on the financial statements. 4. Why is the call price is normally higher than 100 ? Bonds are redeemed early only if it is advantageous to the . To compensate the for forgone interest, as well as for the costs and inconvenience involved, the call price is normally set at an amount higher than 100