On its December $31,2024$ balance sheet, Pharoah Corp. reported bonds payable of $$5950000.$ The bonds had been issued at par. On

January $2,2025,$ Pharoah retired $$2975000$ of the outstanding bonds at par plus a call premium of $$73000.$ What amount should

Pharoah report in its $2025$ income statement as a loss on extinguishment of debt?

$$73000$

$$36500$

$$0$

$$29750$