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Nickel Inc. bought $400,000 of 3-year, 7% bonds as an investment on December 31, 2015 for $428,000. Nickel uses straight-line amortization. On May 1, 2016,

Nickel Inc. bought $400,000 of 3-year, 7% bonds as an investment on December 31, 2015 for $428,000. Nickel uses straight-line amortization. On May 1, 2016, $80,000 of the bonds were redeemed at 111. As a result of the retirement, Nickel will report (Do not round intermediate calculations and round final answer to nearest whole dollar.):

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