Oslego Company, a calendar year taxpayer, sold land held for investment with a $400,000 tax basis for $600,000 in March 2019. The purchaser paid $50,000 cash at closing and gave Oslego an interest-bearing note for the $600,000 remaining price. During 2019, Oslego received an additional $50,000 principal payment on the note. Assuming that Oslego does not elect out of the installment sale method, compute the company's total gain recognized on the sale for 2019? (Round to the nearest dollar).