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Seven $1,000, 8.9% bonds with quarterly coupons redeemable at par on , January 19,2019 were bought on May 6,2005, to yield 5.9%% compounded quarterly .

Seven $1,000, 8.9% bonds with quarterly coupons redeemable at par on , January 19,2019 were bought on May 6,2005, to yield 5.9%% compounded quarterly . The bonds were sold on July 23,2009 , at 104.85 . Find the gain or loss on the sale of the bonds without constructing a bond schedule.

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