What amount should emig report in its 2011 income statement, Financial Accounting

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On its December 31, 2010 balance sheet, Emig Corp. reported bonds payable of $6,000,000 and related unamortized bond issue costs of $320,000. The bonds had been issued at par. On January 2, 2011, Emig retired $3,000,000 of the outstanding bonds at par plus a call premium of $70,000.
Required:
What amount should Emig report in its 2011 income statement as loss on extinguishment of debt (ignore taxes)?


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