On January 1, 2012, King Corporation sold a building that cost $310,000 and that had accumulated depreciation of $100,000 on the date of sale. King received as consideration a $270,000 noninterest-bearing note due on January 1,2016. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2012, was 7%. The prime interest rate was 5%. Indicate the amount should the gain or loss from the sale of the building. E.g. 1,000 for a gain, -1,000 for a loss. Round answer to whole dollars.

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