coupon payment is capital gain? afternoon, receiving, investor, capital, payment

metoyoushe

schweser vol 1 exam 3 afternoon # 99

an investor buys a par bond that pays an annual coupon of $80. He sells the par bond at par 1 year later.

a. capital gain of $80
b. no capital gain or loss


schweser says no capital gain or loss. I'm confused.

Here's the exact wording: ... if the investor sells the bond today (immediately after receiving the second coupon payment, and with no transaction costs), he will have: