A corporation issued 8% bonds with a par value of $1,060,000, receiving a $32,000 premium. On the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation called the bonds at $1,049,400. The gain or loss on this retirement is: Multiple Choice $0. $10,600 gain. $10,600 Ioss. $29,800 gain. $29,800 Ioss