Endor Fishing Company exchanged an old boat for a new one. The old boat had a cost of $260,000 and accumulated depreciation of $200,000. The new boat had an invoice price of $400,000. Endor received a trade in allowance of $100,000 on the old boat, which meant the company paid $300,000 in addition to the old boat to acquire the new boat. If this transaction lacks commercial substance, what amount of gain or loss should be recorded on this exchange?