Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $160,000 ad accumulated deprecaition of $100,000. The new sailboat had an invoice price of $270,000. Hunter received a trade allowance of $70,000 on the old sailboat, which meant the company paid $200,000 in addition to the old sailboat to acquire the new sailboat. If this transaction has commercial substance, what amount of gain or loss should be recorded on this exchange?