Cornell purchased a 15-year, $50,000 bond from Fulvous Corporation for $20,000 eight years ago. Interest of $2,300 has been amortized over the eight years and added to Cornell’s bond basis. In the current year, Fulvous is acquired by Glaucous in a “Type A” reorganization. Cornell exchanges his Fulvous bond for a 7-year, $55,000 Glaucous bond. How does Cornell treat this exchange for Federal income tax purposes? Prepare your solution using spreadsheet software such as Microsoft Excel.