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Nickel Inc. bought $300,000 of 3-year, 7% bonds as an investment on December 31, 2020 for $321,000. The investment receives interest annually and Nickel uses

Nickel Inc. bought $300,000 of 3-year, 7% bonds as an investment on December 31, 2020 for $321,000. The investment receives interest annually and Nickel uses straight-line amortization. On May 1, 2021, the issuer retired $60,000 of the bonds at 118. As a result of the retirement, Nickel will report a

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