In 2016 Gabby purchased and placed into service equipment used in her business as a cost of $800,000. Because of new technology, this equipment was not useful after a few years, so Gabby sold the equipment in 2020 for $5,000. At the time of the sale, Gabby had claimed accumulated tax depreciation of $340,000 on this equipment. Assume that Gabby has substantial income and has a 2020 marginal ordinary income tax rate of 37% and a marginal net capital gain rate of 20%, how much tax will Gabby save due to the loss on the sale of this asset? SPL.000 $1.200 $168.350 12.220 65294.150