On the December 31, 2020 balance sheet of Forefront Ltd., reported bonds payable of $1,600,000 (face value) plus the related unamortized premim of $30,000cr. On January 1, 2021, Forefront retired 70% of these outstanding bonds at a price of 101. Forefront was also charged a call fee of $10,800 at that time. Required: What amount should Forefront report in its 2020 income statement as a gain or loss on extinguishment of this debt (ignore taxes)?