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The December 31, 2024 balance sheet of Cullumber Co. included the following items: 10% bonds payable due December 31, 2030 $5,006,000 Unamortized discount on

The December 31, 2024 balance sheet of Cullumber Co. included the following items: 10% bonds payable due December 31, 2030 $5,006,000 Unamortized discount on bonds payable 420,504 On January 1, 2025, Cullumber retired all of the bonds at 99. Calculate the gain or loss on retirement. on retirement $

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