Mr. Norman Low owns a depreciable asset that he has used in his unincorporated business. It has a cost of $145,000 and a fair market value of $132,000. It is the only asset in its CCA class and the balance in the class is $63,500. Mr. Low sells the asset to his father for $132,000. During the year, prior to taking any CCA on the asset, Mr. Low's father sells the asset for $135,000. Determine the amount of income to be recorded by Mr. Low and his father as a result of these transactions.