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InterTech Corporation needed financing to build a new manufacturing plant. On June 30th of 2021 InterTech issued $2,175,000 bonds with a 6% coupon rate (payments
InterTech Corporation needed financing to build a new manufacturing plant. On June 30th of 2021 InterTech issued $2,175,000 bonds with a 6% coupon rate (payments due on December 31st and June 30th). The bonds were sold for $1,921,500 with an effective interest rate of 8%. On July 1st,2022, InterTech bought back all the bonds for $2,000,000. Question: How much was InterTech's reported gain or loss from the bond repurchase? Please use positive numbers for gain, and negative numbers for loss
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