A company purchases equipment for $211,500 on January 1. It has an estimed residual value of $5,000 and an estimated useful life of 7 years. The company uses the straight-line method of depreciation. The company sells the equipment on 12/31 after 5 full years of ownership for $71,900 cash. Determine the amount of gain or loss on the sale. (Enter a loss as a negative number.) $