On June 27, 2021, Cara Van Travel distributed to its common shareholders 440,000 outstanding common shares of its investment in Constance Noring Pillows. The book value on Van's books of Noring's $1 par common stock was $2.40 per share. Immediately after the distribution, the market price of Noring's stock was $2.90 per share. In its income statement for the year ended June 30, 2023, what amount should Noring report as gain on disposal of the stock (ignore taxes)?