On january 1, 2020, allure company sold an equipment with a carrying amount of 800,000, receiving a noninterest bearing note due in 3 years with a face amount of 1,000,000. There is no established market value for an equipment. The interest rate on similar obligation is 12%. The present value of 1 at 12% for three periods is 0.712. What amount should be reported as gain or loss on the sale of equipment in 2020?