On January 1, 2005, Fox Corp. issued 1,000 of its 10%, $1,000 bonds for $1,040,000. These bonds were to mature on January 1, 2015 but were callable at 101 any time after December 31, 2008.
Interest was payable semiannually on July 1 and January 1. Fox did not elect the fair value option for reporting its financial liabilities. On July 1, 2010, Fox called all of the bonds and retired them. Bond premium was amortized on a straight-line basis. Before income taxes, what was Fox's gain or loss in 2010 on this early extinguishment of debt?