A machine cost $1560000, has annual depreciation of $260000, and has accumulated depreciation of $1235000 on December 31 , 2025. On January 1,2026 , when the machine has a fair value of $357500, it is exchanged for a machine with a fair value of $1755000 and the proper amount of cash is paid. The exchange had commercial substance. The gain to be recorded on the exchange is $195000$32500$0$65000