Q Inc. sold its warehouse for $1,000,000 (land $500,000; building $500,000) in the current year and purchased a larger warehouse for $3,000,000 (land $1,000,000; building $2,000,000). The original warehouse cost $600,000 (land $200,000; building $400,000) and was the only asset in Class 1 which had an undepreciated capital cost balance of $380,000 before the sale. Q Inc. elected to put the new warehouse into a separate Class 1 to take advantage of the 6% CCA rate. What is the minimum amount is to be reported in net income for tax purposes for the current year?