On January $3,2026,$ Benton Corp. owned a machine that had cost $$400,000.$ The accumulated depreciation was $$240,000,$ the estimated salvage value was $$24,000,$ and the fair value was $$640,000.$ On January $4,2026,$ this machine was irreparably damaged by Pogo Corp. and became worthless. In October $2026,$ a court awarded damages of $$480,000$ against Pogo in favor of Benton. At December $31,2026,$ the final outcome of this case was awaiting appeal and was, therefore, uncertain. However, in the opinion of Benton's attorney, Pogo's appeal will be denied. At December $31,2026,$ what amount should Benton accrue for this gain contingency?

$$0$

$$400,000$

$$640,000$

$$520,000$