Determining Gain or Loss on Bond Redemption On April 30, one year before maturity, Middleton Company retired $160,000 of its 9% bonds payable at the current market price of 101 (101% of the bond face amount, or $160,000 x 1.01 = $161,600). The bond book value on April 30 is $157,280, reflecting an unamortized discount of $2,720. Bond interest is currently fully paid and recorded up to the date of retirement. What is the gain or loss on retirement of these bonds? Note: Do not use a negative sign with your answer. $ 0 Loss on retirement