Yager corporation purchased residental real estate several years ago for $335,000 of which $75,000 was allocated to the land and $260,000 was allocated to the building. Yager too straight line MACRS deductions of $30,000 during the years it hel the property. In the current year, Yager sells the property for $375,000 of which $80,000 is allocated to land and $295,000 was allocated to the building. What are the amount and character of Yagers recognized gain or loss on the sale?