Joseph exchanged farmland that he used in his farming business for a building used by Sandy in her motorcycle manufacturing business. The farmland had a FMV of $345,000 and cost $285,000. The allowable depreciation was $45,000, but because of an error, Mary only took $25,000 of depreciation. The building had a FMV of $275,000 and an adjusted basis of $315,000. Because the building was expected to increase in value rapidly, Sandy only gave Joseph $45,000 cash. What is Joseph's realized gain or loss?