The Welfont company sells a plant asset that originally cost $285,000 for $125,000 in cash on December 30, 2022. The company records depreciation quarterly and uses the straight-line method for its computation. The asset was estimated to have a 5-year life and a salvage value of $15,000. The depreciation recorded prior to the date of the sale totalled $162,000. What is the gain or loss that the company must recognize on the transaction?