On January 1, 2019, Carla Vista Corporation issued $19170000 of 10% ten-year bonds at 103 . The bonds are callable at the option of Carla Vista at 105. Carla Vista has recorded amortization of the bond premium on the straight-line method (which was not matarially different from the effective-interest method). On December 31, 2025, when the fair value of the bonds was 96 , Carla Vista repurchased $4260000 of the bonds in the open market at 96. Carla Vista has recorded interest and amortization for 2025. Ignoring income taxes and assuming that the gain is material Caria Vista should report this reacquisition as a gain of $208740. a gain of $259860. a loss of $208740. a loss of $259860