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Question 3 (2 points) On January 1, year 1, ABC. Ltd. purchased a piece of equipment with a cost of $ 190000. The equipment has a useful life of 7 years and a residual value of $ 20000 and is being depreciated under the straight line method. The equipment was sold on July 1, year 4 for $ 50000. Calculate the gain or loss on disposal. If the amount is a gain, enter the answer as a positive amount below (i.e. 20000). If the amount is a loss, enter the answer as negative amount below (i.e. -20000). Round any value to two decimal places in intermediate steps and round your final answer to the nearest dollar. Your