Question: On December 3 1 , 2 0 2 4 , Causholi Corporation sold a machine to Monika Company and simultaneously leased it back for one

On December 31,2024, Causholi Corporation sold a machine to Monika Company and simultaneously leased it back for one year. Pertinent information at this date follows:
Sales price $940,000
Carrying amount 890,000
Present value of lease payments ($9,000 for 12 months at 12%)102,300
Machines estimated remaining useful life 12 years
In Causholis December 31,2024 income statement, the gain recognized from the sale of this machine should be:

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