c) On January 1, 2017, Ayayai Corp. sold an airplane with an estimated useful life of 10 years. At the same time, Ayayai leased back the plane for 10 years. The sales price of the airplane was $501,600, the carrying amount $379,500, and the annual rental $73,571. Ayayai Corp. intends to depreciate the leased asset using the sum-of-the-years-digits depreciation method. How much gain on the sale should be reported at the end of 2017 in the financial statements?