Cullumber Company received proceeds of $1071000 on 10-year, 9% bonds issued on January 1, 2016. The bonds had a face value of $1136000, pay interest annually on December 31st, and have a call price of 105. Cullumber uses the straight-line method of amortization. Cullumber Company decided to redeem the bonds on January 1, 2018. What amount of gain or loss would Cullumber report on its 2018 income statement? O $108800 gain $108800 loss $52000 loss $52000 gain