Use the information about the bond below to help answer this question:

Today (T=0), an investor purchased a 6 year bond with an 5.0% coupon for $10,570

The bond has a face value of $10,000

In six months (T=0.5) interest rates have decreased by 1.0% and the investor decides to sell the bond immediately after receiving the first coupon payment

The investors total gain (loss) on the bond (IN $S) is closest to:

HINT: Total Gain (Loss) = Price Change in Bond + Coupon

a) ($284)

b) $727

c) $915

d) $977

e) $1165