A $1,000 par value bond at an 11 percent coupon rate has 5 years remaining to maturity. Interest rates on similar debt obligations are now 14 percent.Compute the current price of the bond using an assumption of semi-annual payments. If you initially bought the bond at par value, what is your percentage loss (or gain)?

11.78% gain

10.54% Loss

11.78% loss

10.54% gain