Carla Vista Company purchased $1150000 of 8%, 5-year bonds from Carlin, Inc. on January 1, 2021, with interest payable on July 1 and January 1. The bonds sold for $1200396 at an effective interest rate of 7%. Using the effective interest method, Carla Vista Company decreased the Available-for-Sale Debt Securities account for the Carlin, Inc. bonds on July 1, 2021 and December 31, 2021 by the amortized premiums of $3748 and $3892, respectively. At February 1, 2022, Carla Vista Company sold the Carlin bonds for $1185500. After accruing for interest, the carrying value of the Carlin bonds on February 1, 2022 was $1190500. Assuming Carla Vista Company has a portfolio of available-for-sale debt investments, what should Carla Vista Company report as a gain (or loss) on the bonds?

Iwould say the answer is 4.

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