Katie Corporation purchased a machine costing $240,000 with a salvage value of $10,000. The machine is expected to produce 100,000 widgets over its useful life. The company uses the activity method of depreciation for the machine. The machine produced 5,000 widgets in year 1 and 8,000 widgets in year 2. At the end of year 2 the machine was sold for $200,000.

What was the gain or loss recorded on this sale? Note: If the transaction results in a loss please indicate this using a negative number.