Hobbing an extruder gear for the 3D printer

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I upgraded my extruder in my Geeetech i3 3D printer a while ago and had been having intermittent extrusion problems with it, after some troubleshooting I found that my extruder gear was badly machined and actually had a blank spot where there were no teeth at all! Figuring I could do better (or at least not any worse!) I decided to try my hand at re-hobbing the extruder gear. How hard could it be?