ABC Ltd is registered for GST and carries on a business of property development. During the income year it sold property for $500,000 which it had purchased 14 years earlier for $130,000. It had incurred $90,000 (GST inclusive) expenditure on improvements and other services to the property. Professional market valuation of the property as at 1 July this year was $300,000. Using the consideration method, calculate the margin on the sale from the above transaction