Ajax Manufacturing's German subsidiary has the following balance sheet:

Cash, marketable securities Accounts receivable Inventory (at market. Fixed Assets Total assets

SFr 250,000 1,000,000 2,700,000 5,100,000 SFr 9,050,000

Current liabilities Long-term debt Equity Total liabilities plus equity

SFr 750,000 3,400,000 4,900,000 SFr 9,050,000

Suppose the SFr appreciates from $0.70 to $0.76 during the period, under the current rate method (FASB 52), what is Ajax's translation gain (loss) for its equity?