On May 1, Soriano Company reported the following account balances along with their estimated fair values:

Items	Carrying Amount	Fair Value
Receivables	$ 72,600	$ 72,600
Inventory	89,400	89,400
Copyrights	135,000	530,000
Patented technology	921,000	698,000
Total assets	$ 1,218,000	$ 1,390,000
Current liabilities	$ 229,000	$ 229,000
Long-term liabilities	672,000	653,600
Common stock	100,000	0
Retained earnings	217,000	0
Total liabilities and equities	$ 1,218,000	0

On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger, Zambrano also paid $138,500 to an investment banking firm.

The following information was also available:

• Zambrano further agreed to pay an extra $83,400 to the former owners of Soriano only if they meet certain revenue goals during the next two years. Zambrano estimated the present value of its probability adjusted expected payment for this contingency at $41,700.
• Soriano has a research and development project in process with an appraised value of $210,000. However, the project has not yet reached technological feasibility, and the project's assets have no alternative future use.

What is the gain on bargain purchase?