On January 1, 2020, Cullumber Corp. issued 2200 of its 10%,$1,000 bonds for $2288000. These bonds were to mature on January 1, 2026 but were callable at 101 any time after December 31, 2023. Interest was payable semiannually on July 1 and January 1 . On July 1,2025 , Cullumber called all of the bonds and retired them. Bond premium was amortized on a straight-line basis. Before income taxes, Cullumber's gain or loss in 2025 on this early extinguishment of debt was $17600 gain. $66000 gain. $22000 loss. $26400 gain