An asset was purchased for $ 26,000 on January 1, 2016. The asset's estimated useful life was five years, and its residual value was $ 6,000.The straight line method of depreciation was used. Calculate the gain or loss if the asset is sold for $ 20,000 on December 31, 2016, the last day of the accounting period.

The answer is $2,000 loss but I am unsure of how to calculate it.