X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Cash Paid Interest Expense Date 01/01/2021 12/31/2021 $6,955 $6,136 12/31/2022 6,955 6,091 12/31/2023 6,955 6,044 12/31/2024 12/31/2025 6,955 6,955 5,994 5,941 Decrease in Carrying Value $819 864 911 961 1,014 Carrying Value $111,569 110,750 109,887 108,975 108,014 107,000 X2 buys back the bonds for $110,340 immediately after the interest payment on 12/31/2022 and retires them. What gain or loss, if any, would X2 record on this date? X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Cash Paid Date 01/01/2021 12/31/2021 $27,000 12/31/2022 12/31/2023 12/31/2024 12/31/2025 27,000 27,000 27,000 27,000 X2 issued the bonds at: Interest Expense $24,958 24,795 24,619 24,428 24,222 Decrease in Carrying Value $2,042 2,205 2,381 2,572 2,778 Carrying Value $311,978 309,936 307,731 305,350 302,778 300,000