Regis Inc. bought a machine on January 1, 2008 for 800,000. The machine had an expected life of 20 years and was expected to have a salvage value of 80,000. On July 1, 2018, the company reviewed the potential of the machine and determined that its future net cash flows totaled 400,000 and its fair value was 280,000. If the company does not plan to dispose of it, what should Regis record as an impairment loss on July 1, 2018?