Esquire Inc. uses the LIFO method to value its inventory. Inventory at January 1, 2013, was $500,000 (20,000 units at $25 each). During 2013, 80,000 units were purchased, all at the same price of $30 per unit. 85,000 units were sold during 2013. Esquire uses a periodic inventory system.

Assuming an income tax rate of 40%, what is LIFO liquidation profit or loss that the company would report in a disclosure note accompanying its financial statements?