Green Corporation's assets are valued at $1,712,000 after payment of all corporate debts, except for $256,800 of taxes payable on net gains it recognized on the liquidation. Bruno, an individual and the sole shareholder of Green, has a basis of $89,880 in his stock. Compute the gain or loss recognized by Bruno on the liquidation of Green Corporation. Bruno has a recognized (gain/loss) of $----- as a result of the liquidation.