A $10,000, 14% coupon, 25-year bond issued on June 15, 1984, was purchased on March 20, 1987, to yield 9% to maturity, and then sold on April 20, 1990, to yield the purchaser 11.5% to maturity. What was the investor’s capital gain or loss:
a. In dollars?
b. As a percentage of his original investment? Problems 17 through 22 require the calculation of quoted bond prices and accrued interest.