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Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to yield 7% compounded quarterly. The bond was sold a

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Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to yield 7% compounded quarterly. The bond was sold a year later at 102. What is the gain or loss on the sale of the bond? O a. $500 gain O b. $1240.50 gain O c. $740.51 loss O d. $740.51 gain O e. $1240.50 loss

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