2: Hamzeh Corporation is having financial difficulty and therefore has asked Bank to restructure its 0.6 million note outstanding. The present note has 3 years remaining and pays a current rate of interest of 10%. The present market rate for a loan of this nature is 12%. The note was issued at its face value. Instructions Bank agrees to modify the terms of the note, indicating that Hamzeh does not have to pay interest on the note over the 3-year period. Present value factor of C due in 3 years at 12% =0.65752 Compute Gain on Extinguishment of Debt