Sandhill Co$.$ Sold $$5,600,000,7\%,15-$year bonds on January $12025.$ The bonds were dated January $1,2025$ and pay interest on December $31.$ The bonds were sold at $97.$ At January $1,2027,$ when the carrying value of the bonds was $$5,454,400,$ the company redeemed the bonds at $104.$ Record the redemption of the bonds assuming that interest for the year had already been paid.