On january 1, year 1, fox corp. issued 1,000 of its 10%, $1,000 bonds for $1,040,000. these bonds were to mature on january 1, year 11, but were callable at 101 any time after december 31, year 4. interest was payable semiannually on july 1 and january 1. on july 1, year 6, fox called all of the bonds and retired them. bond premium was amortized on a straight-line basis. before income taxes, fox's gain or loss in year 6 on this early extinguishment of debt was:
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