The following information pertains to a bond issue of the Amerio Corporation: Maturity value: $1, 000, 000 Maturity date: December 31, 2017 Stated interest rate (Coupon rate): 6% Interest payments are made annually on December 31st Date of issue: January 1, 2012 Effective (market) interest rate (Yield to maturity) at issue: 6.4% On December 31, 2015, when the market rate was 7%, the Amerio retired entire bond by paying $985, 000 plus accrued interest. Determine the amount of the gain or loss on the bond retirement. (Clearly indicate gain or loss and the amount.)