On January 2, 2008, Yardley Company sold a plant to Ivory Inc. for \($1,500,000\). On that date, the plant’s carrying cost was \($1,000,000\). Ivory gave Yardley \($300,000\) cash and a \($1,200,000\) note, payable in four annual installments of \($300,000\) cash plus 12% interest. Ivory made the first principal and interest payment of \($444,000\) on December 31, 2008. Yardley uses the installment method of revenue recognition.

Required:
In its 2008 income statement, what amount of realized gross profit should Yardley report?