Hurst, Inc. sоld its 10% bоnds with а mаturity vаlue оf $10,000,000 on September 1, 2024 at 98. At the time of the sale the bonds had 5 years until they reached maturity. Interest on the bonds is payable semiannually on September 1 and March 1. The bonds are callable at 103 at any time after September 1, 2026. On December 1, 2026, Hurst decides to reacquire and cancel 75% of the bond issue. Instructions: How much was the gain or loss experienced by Hurst in reacquiring its 10% bonds? (Assume the firm used straight-line amortization.) Show calculations. What is the entry to record the reacquisition and cancelation of the bonds?