Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $500,000 (20,000 units at $25 each). During the year, 80,000 units were purchased, all at the same price of $30 per unit. 85,000 units were sold during the year.

Assuming an income tax rate of 25%, what is LIFO liquidation profit or loss that the company would report in a disclosure note accompanying its financial statements?