Statements of financial position reported non-current assets as shown below. A new asset had been acquired for £120,000 and depreciation of £38,000 written off. An asset was disposed of for £10,000. Identify the gain (G) or loss (L) on the disposal.

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As at 31 December 2011 Non-current assets at cost £498,000 £594,000 Accumulated depreciation £74,200 £98,600 2012