On August 1, an institutional investor buys 10 December T-bond futures contracts at 115-10. On November 30, the investor buys T-bonds at 116-23 and sells his 10-December T-bond futures at 114-22. By how much does the T-bond hedge increase or decrease the cost of the T-bond purchase?

a) $62,500 increase b)$62,500 decrease c) $6,250 increase