Due to disappointment, many cricket fans have given up hope. To help fund managements obnoxiously high salaries, the management team has decided to issue a series of bonds. Wanting to support the team, Henrik bought a $1,000 face value, 6% coupon bond 10 years before its maturity. The bond paid semi-annual coupons with a YTM of 5% p.a. compounded semi-annually. He sold the bond 3 years later to Daniel for $1,020. Calculate the overall gain or loss on the sale of the bond from the time of purchase? And is it premium bonds or discount?