On March 15, Chief Company acquired 20,000 shares of its own $2 par value common shares at a cost of $17 per share. Chief originally issued the shares at $12 per share. On July 5, Chief sold 7,000 of the shares back in the open market at a price of $20 per share. On October 19, Chief sold the remaining shares at a price of $8. In conjunction with this transaction, how much does Chief debit retained earnings for in their journal entry on October 19th?
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