Mary and Juan formed a partnership. Mary received a 70% interest in partnership capital and profits in exchange for land with a basis of $250,000 and a fair market value of $260,000. Juan received a 30% interest in partnership capital and profits in exchange for $110,000 of cash. Three years after the contribution date, the land contributed by Mary is sold by the partnership to a third party for $300,000. How much taxable gain will Juan recognize from the sale