Hans buys a bond with a face value of $100, a time to maturity of 10 years, a coupon of 3% pa with semi-annual payments and a yield of 0.96% pa. Four year's later (immediately after the eighth coupon has been paid), there is an unexpected increase in the cash rate. The yield on the bond increases to 1.44% pa and he decides to sell. Required Calculate the selling price and the dollar profit or loss Hans has made on selling the bond (ignore coupons when calculating the profit), outlining why this profit or loss has occurred.