Problem: A company converted from a C-Corporation to an S-Corporation on January 1st, Year 1. On July 1st, Year 5, the company plans to sell a piece of land that was appraised at $300,000 at the time of conversion. The land's original purchase price was $200,000. The land is now worth $500,000. Assuming the built-in gains tax still applies, what is the projected amount subject to the built-in gains tax if the land is sold on July 1st, Year 5?