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On january 1, 2020 Marseto Corporation borrows $1,000,000 on a 10%, five-year interest-bearing note. At December 31, 2020, the fair value of the note is

On january 1, 2020 Marseto Corporation borrows $1,000,000 on a 10%, five-year interest-bearing note. At December 31, 2020, the fair value of the note is determined to be $975,000. Marseto irrevocably elects the fair value option in measuring the note payable. what amount should be reported as gain from change in fair value of the note payable?

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