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Nickel Incorporated bought $400,000 of 3-year, 8% bonds as an investment on December 31, 2023 for $432,000. The investment receives interest annually and Nickel uses

Nickel Incorporated bought $400,000 of 3-year, 8% bonds as an investment on December 31, 2023 for $432,000. The investment receives interest annually and Nickel uses straight-line amortization. On May 1, 2024, the issuer retired $80,000 of the bonds at 119. As a result of the retirement, Nickel will report a:

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