ABC Corporation owns machinery that cost $17,840 when purchased on January 1, 20X0. Straight-line depreciation has been recorded at a rate of $2,650 per year, resulting in a balance in accumulated depreciation of $5,300 at December 31, 20X1. The machinery is sold on September 1, 2022, for $12,530. What is the gain or loss recorded on the disposal of the machinery? $1,581 $1,625 $1,669 $1,713 $1,757