Kerr Company had the following transactions in bond investment held as trading for the current year.

Mar.1 Purchased 2,000, P1,000, 12% bonds of Walsh Company at 93 excluding accrued interest. Interest is payable on February 1 and August 1.

Apr. 1 Purchased 4,000, P1,000, 12% bonds of Penny Corporation at 95 plus accrued interest. Interest is payable March 1 and September 1.

Oct. 1 Sold 1,000 of the Penny bonds at 105 excluding accrued interest.

Required:

How much is the gain on sale of the bonds on October 1?