Ten

$10,000,

6.6%

bonds with

annually

coupons redeemable at

par

on

September 28, 2020,

were bought on

March

25,

2005, to yield

5.3%

compounded

annually.

The bonds were sold on

March 06, 2014,

at

95.2.

Find the gain or loss on the sale of the bonds without constructing a bond schedule.