A company sells some equipment for $78,000. The equipment was originally purchased on January 1, 2016 for $125,000. At that time the equipment had an estimated useful life of 9 years and an estimated salvage value of $7,500. The company has been depreciating the asset by using the straight-line method. If the company sells the equipment for $78,000 on December 31, 2019, then what is the gain or loss on the sale?