Jabiru corporation purchased a 20% interest in fish company common stock on january 1, 2013 for $300,000. this investment was accounted for using the complete equity method and the correct balance in the investment in fish account on december 31, 2015 was $440,000. the original excess purchase transaction included $60,000 for a patent amortized at a rate of $6,000 per year. in 2016, fish corporation had net income of $4,000 per month earned uniformly throughout the year and paid $20,000 of dividends in may. if jabiru sold one-half of its investment in fish on august 1, 2016 for $500,000, how much gain was recognized on this transaction?