On December 31, 2020, Green Bank enters into a debt restructuring agreement with Skysong Inc., which is now experiencing financial trouble. The bank agrees to restructure a $1.4-million, 12% note receivable issued at par by the following modifications: 1. Reducing the principal obligation from $1.4 million to $1.12 million 2. Extending the maturity date from December 31, 2020, to December 31, 2023 3. Reducing the interest rate from 12% to 10% Skysong pays interest at the end of each year. On January 1, 2024, Skysong Inc. pays $1.12 million in cash to Green Bank for the principal. The market rate is currently 10%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, determine if Skysong can record a gain under this term modification. Calculate the gain if any. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and Round final answer to O decimal places, e.g. 1,525.) Gain $ CA