Determining Gain or Loss on Bond Redemption On January 1, 2016, two years before maturity, Easton Company retires $100,000 of its 9% bonds payable at the current market price of 101 (101% of the bond face amount, or $100,000 x 1.01 = $101,000). The bond book value on January 1, 2016 is $98,800 reflecting an unamortized discount of $1,200. Bond interest is presently fully paid and recorded up to the date of retirement. What is the gain or loss on retirement of these bonds? hec