A $1,500 bond had a coupon rate of 5.40% with interest paid semi-annually. Andrew purchased this bond when there were 9 years left to maturity and when the market interest rate was 7.30% compounded semi-annually. He held the bond for 4 years, then sold it when the market interest rate was 3.20% compounded semi-annually. Calculate his gain or loss on this investment O a. $75.23 O b. $493.08 -$156.07 O d. $337.00 A $1,500 bond had a coupon rate of 5.40% with interest paid semi-annually. Andrew purchased this bond when there were 9 years left to maturity and when the market interest rate was 7.30% compounded semi-annually. He held the bond for 4 years, then sold it when the market interest rate was 3.20% compounded semi-annually. Calculate his gain or loss on this investment O a. $75.23 O b. $493.08 -$156.07 O d. $337.00