39 bigger Co purchased an asset on 1 January 20x3 at a cost of $1,000,000 It is depreciated over 50 years by the straight line method (nil residual value), with a proportionate charge for depreciation in the year of acquisition and the year of disposal. At 31 December 20X4 the asset was re-valued to ($1,200,000, There was no change in the expected useful life of the asset. The asset was sold on 30 June 20x5 for $1,195,000. What profit or loss on disposal of the asset will be reported in the statement of profit or loss of Digger Co for the year ended 31 December 20X5