Cullumber Company received proceeds of $550000 on 10 -year, 9% bonds issued on January 1. 2019. The bonds had a face value of $584000, pay interest annually on December 31 , and have a call price of 103 . Cullumber uses the straight-line method of amortization. Cullumber Company decided to redeem the bonds on January 1, 2021. What amount of gain or loss would Cullumber report on its 2021 income statement? $27200 loss $44720 gain $27200 gain $44720 loss