Which of the following is an example of capital loss?

- An investor sells a bond on the secondary market below the price she paid for it.
- An investor sells a bond on the secondary market above the price she paid for it.
- An investor purchases a bond on the secondary market above its issue price.
- An investor purchases a bond on the secondary market below its issue price.

An investor sells a bond on the secondary market below the price she paid for it.