Parent Corporation owns 90% of Subsidiary Corporation's stock and Renate owns 10% of Subsidiary Corporation's stock. Parent's basis in the Subsidiary stock is $200,000 and Renate's basis in the Subsidiary stock is $60,000. Under a plan of complete liquidation, Parent Corporation receives property with an adjusted basis of $400,000 and a fair market value of $900,000 in exchange for all of its Subsidiary stock. Renate receives property with an adjusted basis of $70,000 and a fair market value of $100,000 in exchange for all her Subsidiary stock. How much gain does Subsidiary Corporation recognize as a result of these distributions? (do not include a $ or comma in your answer)