Pye Company leased equipment to the Polan Company on July 1, 2015, for a ten-year period expiring June 30, 2025. Equal annual payments under the lease are $160,000 and are due on July 1 of each year. The first payment was made on July 1, 2015. The rate of interest contemplated by Pye and Polan is 9%. The cash selling price of the equipment is $1,120,000 and the cost of the equipment on Pyes accounting records was $992,000. Assuming that the lease is appropriately recorded as a sale for accounting purposes by Pye, what is the amount of profit on the sale and the interest revenue that Pye would record for the year ended December 31, 2015?