On January 1, 2015, Grouper Industries Inc. issued a $1,011,000, 10-year bond. The bond sold at 98, and paid 13% interest each January 1 and July 1. Grouper called at 107 and cancelled the bond on January 1, 2020. Assume the company used the straight-line method of amortization.

(a1)

Calculate the gain or loss on redemption.

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$

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