Question: Eight $1,000, 8.6% bonds with annually coupons redeemable at par on May 27, 2024, were bought on November 13, 2005, to yield 6.8% compounded annually.

Eight $1,000, 8.6% bonds with annually coupons redeemable at par on May 27, 2024, were bought on November 13, 2005, to yield 6.8% compounded annually. The bonds were sold on January 14, 2013, at 103.35. Find the gain or loss on the sale of the bonds without constructing a bond schedule. The on the sale is $] (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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