On December 1, 2023 a governmental entity receives a gift of a multi-story office building that the government intends to sell to support program activities. At the time of the gift, the building has a historical cost of $425,000; a book value in the hands of the donor of $350,000; and an estimated fair market value of $525,000. On March 31, 2024 three months after year-end, but before the city had issued its annual 2022 financial statements, the building was sold for $550,000. In 2023, how much donations revenue should the city should recognize on its governmental fund financial statements?  

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