Esquire Inc. uses the LIFO method to value its inventory. Inventory at January 1, 2018, was $682,000 (31,000 units at $22 each). During 2018, 102,000 units were purchased, all at the same price of $26 per unit. 111,000 units were sold during 2018. 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?

LIFO liquidation profit (loss) =