Snack That, Inc. is a Houston$-$based snack food and bakery product company with a large manufacturing and distribution facility in Evansville, IN$.$

$$ In $2016,$ Snack That purchased a corporate housing facility and shuttle to assist with travel costs for employees traveling between Houston and Evansville for various reasons.

$$ In $2018,$ Snack That entered into an agreement with Rent That, Inc. to sell both its corporate housing facility and shuttle to free up cash

$$ At the same time as the sale agreement is entered into, Snack That enters into an additional contract with Rent That to lease back both assets.

$$ Snack That adopted ASC $842$ prior to July $1,2018.$

Corporate Housing Facility rental agreement contract terms:

$$ Carrying amount of asset: $$600,000$

$$ Fair value of the asset: $$900,000$

$$ Remaining Economic Life of asset: $28$ years

$$ Sales Price of asset: $$900,000$

$$ Lease Term: $10$ years with no renewal options

$$ Lease Payments: $$70,000$ fixed annually

$$ Present Value of Minimum Lease Payments: $$540,521$

$$ Ownership does not transfer to Snack That at the end of the lease

$$ Option to repurchase for fair market value at the end of the lease, but Snack That concludes at commencement that exercise of the purchase option is not reasonably certain

$$ Facility is not specialized and have alternative use to Rent That at the end of the lease

$$ There are many corporate housing facilities in the area that frequently come up for sale

Shuttle rental agreement:

$$ Carrying amount of asset: $$40,000$

$$ Fair value of asset: $$50,000$

$$ Remaining Economic Life of asset: $8$ years

$$ Sales Price of asset: $$50,000$

$$ Lease Term: $7$ years with no renewal options

$$ Lease Payments: $$7,000$ fixed annually

$$ Present Value of Minimum Lease Payments: $$40,504$

$$ Ownership does not transfer to Snack That at the end of the lease

$$ Shuttle is not specialized and will have alternative use to Rent That at the end of the lease

$$ Option to repurchase for fair market value at the end of the lease, but Snack That concludes at commencement that exercise of the purchase option is not reasonably certain

$$ There are many similar shuttles that are readily available in the marketplace

How much gain on derecognition of the corporate housing facility should Snack That recognize as a result of the sale?