Caravan Corporation owned a warehouse located in the path of a proposed highway. Caravan bought the land in 1962 for $10,000. That same year, it built the warehouse at a cost of $50,000. In 2005, after prolonged litigation, the state exercised its right of eminent domain and condemned the property, awarding Caravan $200,000. Depreciation accumulated to the date of the award was $45,000. On its 2005 federal income tax return, Caravan elected not to recognize the gain since replacement property was bought for $225,000. For income statement purposes, what Caravan should recognize a gain in 2005 of ?