On December $31,2023,$ Sheridan Corp. is in financial difficulty and cannot pay a $$918000$ note with $$91800$ accrued interest payable to Cameron Ltd$,$ which is now due. Cameron agrees to accept from Sheridan equipment that has a fair value of $$444000,$ an original cost of $$738000,$ and accumulated depreciation of $$354000.$ Cameron also forgives the accrued interest, extends the maturity date to December $31,2025,$ reduces the face amount of the note to $$384000,$ and reduces the market rate to $6\%,$ with interest payable at the end of each year. Sheridan should recognize a gain or loss on the transfer of the equipment of

$-$ $$60000$ gain

$-$ $$91800$ gain

$-$ $$0$

$-$ $$294000$ loss