TPW, a calendar year taxpayer, sold land with a $536,000 tax basis for $755,000 in February. The purchaser paid $76,000 cash at closing and gave TPW an interest-bearing note for the $679,000 remaining price. In August, TPW received a $56,250 payment from the purchaser consisting of a $33,950 principal payment and a $22,300 interest payment. Assume that TPW uses the installment sale method of accounting.

Compute the difference between TPWs book and tax income resulting from the installment sale method.