Assume that on January 1, 2016, a company acquired equipment for $8,700. A five year useful service life was estimated. The company uses the double-declining-balance depreciation method. Assume also that, when the equipment was purchased, a $1,700 residual value had been estimated On September 30, 2017, the company sold the equipment for $2,500 Requirement: Complete the following to determine the gain or loss on the sale of the equipment. (If it is a loss, use a minus sign or parentheses.) Gain (Loss) on sale Choose from any list or enter any number in the input fields and then click Check