On March 25, 2024, Phillips Corporation purchased bonds of Atlas Corporation for $132 million and classified the securities as trading securities. On December 31, 2024, these bonds were valued at $150 million. Three months later, on April 3, 2025, Phillips Corporation sold these bonds for $140 million. As part of the multistep approach to record the 2025 transaction, Phillips Corporation should first update the fair value adjustment by recording a(n): Multiple Choice unrealized holding loss of $10 million in 2025. gain of $8 million in 2025. unrealized holding gain of $28 million in 2025. unrealized holding gain of $8 million in 2025