On Jan 1 Giamartino Inc. issues a 10 year bond with a face value of $100,000 for $96,000. Interest is paid on July 1 and Jan 1. Bond issue costs were $1000. The company uses straight line amortization . On Jan 1 of FY7 the company retires $60,000 in face value of the bond issuance and pays $58,000 for the bonds. Record the gain or loss on retirement. Please show work. No percent or coupon provided.