1 acct 4405

ranco converted a bullding from personal to business use in May 2019 when the falr market value was $35,000. He purchased th sullding in July 2016 for $56,000. On December 15 of this year, Franco sells the building for $28,000. On the date of sale, the iccumulated depreciation on the bullding is $3,565. What is Franco's recognized gain or loss on the sale