Dаvis Cоmpаny hаs had bоnds payable with a face value оf $15,000 outstanding for several years. On January 1, 2024, when there was an unamortized discount of $2,500 and a remaining life of 5 years, its 80% owned subsidiary, Jacobson Company, purchased the bonds in the open market for $18,000. The bonds pay 7% interest annually on December 31. The companies use the straight-line method to amortize interest revenue and expense. Compute the gain or loss on the retirement of bonds for the 2024 consolidation entry.