On January 3, 2021, Tracer Incorporated purchased a patent for $495,000 to manufacture a new type of chair. The patent has a remaining legal life of 12 years. Tracer plans to manufacture the chair for eight years and then sell the patent for $65,000. The company amortizes intangible assets using the straight-line method. On December 29, 2023, Tracer decides to sell the patent for $360,000. Assuming the company has a December 31 year-end, what is the gain or loss recorded on the sale of the patent?