A $3,000 bond had a coupon rate of 6.30% with interest paid semi-annually. Raymond purchased this bond when there were 7 years left to maturity and when the market interest rate was 7.40% compounded semi-annually. He held the bond for 3 years, then sold it when the market interest rate was 2.40% compounded semi-annually. Calculate his gain or loss on this investment. a. $923.02 b. $74.88 c. -$301.52 d. $621.50