Calculate the gain or loss on the sale for three $100,000 bond certificates, 5.5% bond rate with quarterly coupons redeemable at par on September 1, 2017, bought on May 1, 2011, to yield 6% compounded quarterly. The bonds were sold on January 21, 2014, at 93.5. A $50,000, 8% bond with quarterly coupons redeemable at par is purchased five years before maturity to yield 4% compounded semi-annually. Determine the premium or discount