Krueger Company has equipment with a cost $50,000. The equipment has an estimated useful life of 5 years and a salvage of $5,000. The company has a calendar year-end and uses the sum-of-the-years'-digits method to calculate depreciation expense. The equipment was purchased on March 1, 20X1 and sold on June 30, 20X3 for $24,000. What amount of gain or loss would the company recognize on the sale? Select answer from the options below $5,000 gain $1,000 loss $4,888 loss $1,000 gain