Hannibal owns a farm. He purchases a tractor in 2016 at a cost of $25,000. Because 2016 is a bad year, he does not deduct any depreciation on the tractor in 2016. He sells the tractor in 2020 for $16,000. He takes straight-line depreciation on the tractor of $12,500 for the years 2017 to 2020. The total allowable straightline depreciation for the tractor for 2016 to 2020 is $15,000. What is Hannibal’s gain or loss on the sale of the tractor? Explain.