On the first day of 2021, TrueTech Companies had outstanding $1,000,000 of 9% bonds with a book value of $973,000. Truetech called the bonds on July 1, 2021 at the price of $989,500. The bonds were previously issued at a price to yield 11% and interest payable semi-annually on July 1 and January 1. What is the amount of the loss on early extinguishment? Multiple Choice $7,985. $8,515. $0. $7,644.