Because investors holding periods are different, we need to consider capital gain or loss when an individual investor sells the bond before maturity. The profit or loss is relative to the constant-yield price trajectory. So it is essential to calculate the correct carrying value of a bond at a specific time point. Assume a 10-year, 10% annual coupon payment bond is traded in the market at $97.58358 per $100 face value at a 10.4% discount rate.

Question: What is the bonds carrying value in $ amount at the end of two years (or the beginning of three years)?