Determining Gain or Loss on Bond Redemption On April 30, one year before maturity, Middleton Company retired $360,000 of its 9% bonds payable at the current market price of 101 (101% of the bond face amount, or $360,000 x 1.01 = $363,600). The bond book value on April 30 is $353,880, reflecting an unamortized discount of $6,120. 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?