A corporation issued 8% bonds with a par value of $1,080,000, receiving a $36,000 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 $1,069,200. The gain or loss on this retirement is: $10,800 loss. $0. $10,800 gain. $32,400 gain. $32,400 loss