Cropp Inc. acquired 35% of Jones Company's common stock for $300,000 on January 1, 2018. During 2018, Jones Company reported a net income of $150,000 and paid dividends totaling $20,000. For 2019, Jones Company earned a net income of $180,000 and paid dividends totaling $30,000. On December 31, 2019, Cropp Inc. sold one-half of its investment in Jones Company for $208,000 cash.

Calculate the amount of the gain on sale of investments reported by Cropp Inc.at December 31, 2019. Assume investment balance in the Jones investment is $345,500 for the purposes of your calculations.