On April 7, 2018, Sanders, Inc. exchanged 4,000 shares of its $25 par value treasury common stock for a patent owned by Masset Co. The treasury shares were acquired in 2017 for $90,000. At April 7, 2018, Sanders, Inc.'s common stock was quoted at $36 per share, and the patent had a carrying value of $115,000 on Masset's books. Sanders Inc. should record the patent at