On June 30, 2014, a fire in Walnut Company's plant caused the total loss of a production machine. The machine was being depreciated at $20,000 annually and had a carrying amount of $160,000 at December 31, 2013. On the date of the fire, the fair value of the machine was $220,000, and Walnut received insurance proceeds of $200,000 in October 2014. In its income statement for the year ended December 31, 2014, what amount should Walnut recognize as a gain or loss on disposition