On January 1, 2007, Moon Co. issued eight-year bonds with a face value of $950,000 and a stated interest rate of 7%, payable semi-annually on June 30 and December 31. The market yield for similar bonds was 8%.
Two years later, on January 1, 2009, Moon Co. repurchased the bonds in the open market to reduce its overall level of debt. At the date of repurchase, the market yield had increased to 10%.
What is the difference in cash received at issuance and cash paid at repurchase for the bond (rounded to the nearest thousand)?