Purtell pays the market price of $92.$

Read the requirements. $($Assume bonds payable are amortized using the straight$-$line amortization method.$)$

Requirement $1.$ What is Purtell Company's carrying amount of the bonds payable on the retirement date?

The carrying amount of the bonds payable on the retirement date is

Requirement $2.$ How much cash must Purtell Company pay to retire the bonds payable?

To retire the bonds, Purtell Company must pay

Requirement $3.$ Compute Purtell Company's gain or loss on the retirement of the bonds payable. $($Use parentheses or a minus sign for losses.$)$

Purtell Company's gain or loss on the retirement of the bonds payable is