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Sheila purchases $126,400 of newly issued Gingo Corporation bonds for $113,760. The bonds have original issue discount (OID) of $12,640. After Sheila amortized $5,688 of
Sheila purchases $126,400 of newly issued Gingo Corporation bonds for $113,760. The bonds have original issue discount (OID) of $12,640. After Sheila amortized $5,688 of OID and held the bonds for four years, she sold the bonds for $120,080. What is the amount and character of her gain or loss?
Sheila has a capital gain of $ __________ .
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