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Chapter 11-4 Lawler Clothing sold manufacturing equipment for $22,000. Lawler originally purchased the equipment for $86,000, and depreciation through the date of sale totaled $74,000.

Chapter 11-4 Lawler Clothing sold manufacturing equipment for $22,000. Lawler originally purchased the equipment for $86,000, and depreciation through the date of sale totaled $74,000.

What was the gain or loss on the sale of the equipment?

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