On January 1, 2016, F Corp. issued 3,700 of its 9%, $1,000 bonds for $3,820,000. These bonds were to mature on January 1, 2026, but were callable at 101 any time after December 31, 2019. Interest was payable semiannually on July 1 and January 1. On July 1, 2021, F called all of the bonds and retired them. The bond premium was amortized on a straight-line basis. Before income taxes, F Corp.'s gain or loss in 2021 on this early extinguishment of debt was:

a) 17,000 gain

b) 37,000 loss

c) 29,000 gain

d) 97,000 gain