5. Oslo Corporation has a vehicle that cost P850,000 on October 1, 2015. This old vehicle had an estimated life of ten years and a residual value of P50,000. On June 30, 2020, the old vehicle is traded in for a new vehicle. Oslo was offered a trade-in of P500,000 on the old vehicle and the cash payment was P90,000 to acquire the new vehicle. The straight-line depreciation method is used. The amount of gain or loss to be recognized by Oslo Corporation on the trade-in of the old vehicle is