Response to the following problem:
Samson Hospital purchased $1,200 (face value) of the 5 percent bonds of XYZ Company at 92 percent on July 1, 20X1. Brokerage and other acquisition costs were $32. Interest is payable semiannually on May 1 and November 1. The maturity date of the bonds is November 1, 20X6. On September 1, 20X1, $480 (face value) of the bonds are sold at 95 percent and accrued interest; brokerage costs were $12.
Required: What was the gain (loss) on the sale?