Genetic Insights Co. purchases an asset for $14,623. This asset qualifies as a seven- year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5 and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively, Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,907. Calculate gain or loss on disposal. Gain should be entered as a positive number. Loss should be entered as a negative number. Round the answer to two decimals. Your Answer: Answer Next Page Page 3 of 10