LO.7 On November 4, 2016, Blue Company acquired an asset (27.5-year residential real property) for $200,000 for use in its business. In 2016 and 2017, respec- tively, Blue took $642 and $5,128 of cost recovery. These amounts were incorrect; Blue applied the wrong percentages (ie., those for 39-year rather than 27.5-year property). Blue should have taken $910 and $7,272 of cost recovery in 2016 and 2017, respectively. On January 1, 2018, the asset was sold for $180,000. Calculate the gain or loss on the sale of the asset for that year.