On Jan. $1,2019,$ SMU experienced two events. First, SMU registered a patent for the technology its engineers developed internally $($the combined cost of that technology development was $$200,000).$ Second, SMU purchased a patent for $$32,000$ in cash. The useful life of the patent was $8$ years.

MSB uses straight$-$line amortization for intangible assets and assumes zero residual values.

MSB sold the patents on January $1,2020$ and received a total of $$300,000$ in proceeds from sale. What was the gain $($loss$)$ recognized in connection to the sale? $($Input a loss as a negative value$)$