A company purchases a new forklift on January 1, 2022 and pays cash. The cost of the forklift is $46,000. The company expects that they will use the forklift for 6 years and that at the end of 6 years, the forklift will have a salvage value of $16,000. After two years, the company sells the forklift for $37,000. Assuming the company utilizes the straight line method for depreciation, what is the gain/(loss) on the sale of the forklift?

Group of answer choices

$6,000 Loss

$6,000 Gain

$1,000 Gain

$1,000 Loss