Crane Company traded machinery with a book value of $997500 and a fair value of $1750000. It received in exchange from Blossom Company a machine with a fair value of $1575000 and cash of $175000. Blossoms machine has a book value of $1638000. What amount of gain should Crane recognize on the exchange (assuming lack of commercial substance)?

$75250

$ -0-

$175000

$752500