Conyers Bank holds U.S. Treasury bonds with a book value of $30 million and a duration of 11.25 years. The U.S. Treasury bonds are currently worth $28,387,500 and yield 12%. The Bank is currently considering hedging the risk relating to these Treasury bonds by using Treasury bond futures. Treasury bond futures are currently priced at 94.20 and have a $100,000 par value. What would be the total gain or loss if the bank uses the US Treasury bonds futures to fully hedge its Treasury bond exposure?

A: $753,348.21 decrease

B:$712,855.75 decrease

C: $712,855.75 increase

D: No gain or loss

E: $753,348.21 increase