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On 1 January 20X5, DR purchased a ten-year franchise for $800,000. On 31 December 20X6, DR sold this franchise for $975,000. It incurred selling costs

On 1 January 20X5, DR purchased a ten-year franchise for $800,000. On 31 December 20X6, DR sold this franchise for $975,000. It incurred selling costs of $15,000. What is the amount of the gain on derecognition of this franchise that DR should recognise in its statement of profit or loss for the year ended 31 December 20X6?

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