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On December 31, 2020, Green Bank enters into a debt restructuring agreement with Windsor Inc., which is now experiencing financial trouble. The bank agrees to restructure a $1.8-million, 12% note receivable issued at par by the following modifications: 1. Reducing the principal obligation from $1.8 million to $1.44 million 2. Extending the maturity date from December 31, 2020, to December 31, 2023 3. Reducing the interest rate from 12% to 10% Windsor pays interest at the end of each year. On January 1, 2024, Windsor Inc. pays $1.44 million in cash to Green Bank for the principal. The market rate is currently 10%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, determine if Windsor can record a gain under this term modification. No Calculate the gain if any. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and Round final answer to O decimal places, e.g. 1,525.) Gain $