On February $1,2020,$ Pat Weaver Inc. $($PWI$)$ issued $10\%,$$$1,000,000$ bonds for $$1,116,000.$ PWI retired all of these bonds on January $1,2021,$ at $102.$ Unamortized bond premium on that date was $$92,800.$ How much gain or loss should be recognized on this bond retirement?

Multiple Choice

$$0$ gain.

$$111,800$ gain.

$$72,800$ gain.

$$96,000$ gain.