Miguel would like you to calculate whether he has realized a capital gain or loss on a T-bill he recently sold. He bought the 91-day T-bill for $987,320 with an effective annual yield of 5.25%. Sixty days later, the effective interest rate fell to 4.25% and he sold the T-bill for $996,470. What is Miguel's capital gain on this transaction?

a) $ 810

b) $1,150

c) $2,370

d) $3,530