Bonneau Enterprises decides to sell one of their delivery trucks on July 12, 2024. The business uses a calendar year for their fiscal year and uses the straight -line method for accounting for depreciation. The truck was purchased January 2, 2020 for $20,000 with an estimated salvage value of $2,000 and estimated useful life of 6 years. The truck was sold for $7,000. What is the amount of the gain or loss on disposal of the truck?