Lyle Lawrence transfers an apartment building with an adjusted basis of $300,000 and a fair market value of $480,000 for Carl Cushions apartment building (adjusted basis $280,000) with a fair market value of $400,000. Lyle's mortgage of $120,000 is assumed by Carl, whose mortgage of $40,000 is assumed by Lyle. What is the recognized gain or loss for Lyle? (if a loss, put number in parentheses)