An asset was acquired by a taxpayer for R350 000 and brought into use immediately. The taxpayer claimed wear-and-tear allowances totalling R140 000 up to the date of disposal equals the recoupment. The asset was subsequently sold for R280 000. Assume that the original cost of the asset qualifies as its base cost for capital gains tax purposes and that no scrapping allowance or other base cost adjustments apply.

What is the capital gain/loss arising from the disposal of the asset for capital gains tax purposes?