On January 1, 2017, Shay issues $250,000 of 10%, 12-year bonds at a price of 97.50. Six years later, on January 1, 2023, Shay retires 20% of these bonds by buying them on the open market at 104.50. All interest is accounted for and paid through December 31, 2022, the day before the purchase. The straight-line method is used to amortize any bond discount.