On January 3, year 1, Falk Co. purchased 500 shares of Milo Corp. commonstock for $36,000. On December 2, year 3, Falk received 500 stock rights fromMilo. Each right entitles the holder to acquire one share of stock for $85. Themarket price of Milo's stock was $100 a share immediately before the rightswere issued, and $90 a share immediately after the rights were issued. Falksold its rights on December 3, year 3, for $10 a right. Falk's gain from the saleof the rights is