Schwer, Inc. issued $500,000 of 10%, 15-year bonds at 95 on July 1, 2012. Interest is payable semiannually on December 31 and June 30. Through June 30, 2017, Schwer amortized $6,000 of the bond discount. On July 1, 2017, Schwer retired the bonds at 102.Calculate the loss on bond retirement at July 1, 2017. Please show your work

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