Madoff Construction Company uses the percentage of completion method (cost to cost method) for their long term construction contracts.....

They were working on a contract for which they would receive $900,000 at completion....

In 2024, they reported a gross profit of 58,440.....

2025 was a disastrous year for the company. As of the end of the year, they had incurred costs of $800,000 (which includes costs for both 2024 and 2025) , and think it is going to cost 120,266 to finish the project.

How much of a loss should they report in 2025? (Enter the loss as a positive number...Example: loss of "150,000".)