Pearl Corp. reported the following information for tax purposes: 

(1) In year 1, recognized a loss of $35,000 on land that it held for investment, 

(2) In year 1, also recognized a $50,000 gain on equipment it purchased a few years ago. 

The equipment sold for $50,000 and Pearl had deducted $40,000 of depreciation on the equipment.

What is the amount and type (temporary vs. permanent, unfavorable vs. favorable) of the book-tax difference in year 1?