Computing Gain or Loss on Disposal On September 1 of the current year, Boundary Inc. sold equipment for $24,000, which originally had been purchased for $50,000 on December 31, fifty-six months ago. The equipment was estimated to have no salvage value at the end of its estimated useful life of 10 years. The company uses straight-line depreciation. Compute the gain or loss on disposal of this equipment on September 1 of the current year. Note: Round your answer to the nearest whole number. Note: Do not use a negative sign with your answer. $ 0