Matthew owns a warehouse that is used in business while Pamela owns land. Matthew exchanges the warehouse for the land, which will be held for investment. The FMV of the warehouse is $40,000(basis $240,000) and the warehouse is subject to a morgage of $80,000 which is assumed by Pamela. Matthew receives $20,000 cash and the land, which has a FMV of $300,000(basis of $260,000 to Pamela). What gain must Pamela recognize?