Mann, Inc., which owes Doran Co. $600,000 in notes payable with accrued interest of $54,000, is in financial difficulty. To settle the debt, Doran agrees to accept from Mann equipment with a fair value of $570,000, an original cost of $840,000, and accumulated depreciation of $195,000. Instructions: - Compute the gain or loss to Mann on the settlement of the debt. - Compute the gain or loss to Mann on the transfer of the equipment.