Bundle Company issued $550,000 par value, 10-year bonds at 104 on January 1, 20X3, which Mega Corporation purchased. The coupon rate on the bonds is...

Will a gain or loss be reported in the 20X6 consolidated financial statements for Parent for the constructive retirement of bonds? What amount will be reported? (Do not round your intermediate calculations. Round your final answers to nearest whole dollar.)B. How much will Parent’s purchase of the bonds change consolidated net income for 20X6?