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The December 31,2024 balance sheet of Tonyan Co. included the following items: 10% bonds payable due December 31,2030 Unamortized discount on bonds payable $5,000,000420,000 On

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The December 31,2024 balance sheet of Tonyan Co. included the following items: 10% bonds payable due December 31,2030 Unamortized discount on bonds payable $5,000,000420,000 On January 1, 2025, Tonyan retired all of the bonds at 98. Calculate the gain or loss on retirement

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