Crane Company factors $6400000 of its accounts receivables with recourse for a finance charge of 2%. The finance company retains an amount equal to 9% of the accounts receivable for possible adjustments. Crane estimates the fair value of the recourse liability at $211000. What would be recorded as a gain (loss) on the transfer of receivables?
| Loss of $211000. |
| Gain of $915000. |
| Gain of $128000. |
| Loss of $339000. |
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