Laurel Company purchased a new machine for $33,000. At the time of acquisition, the machine was estimated to have a useful life of 10 years and an estimated value at the end of the ten years of $3,000. The company has recorded monthly depreciation using the Straight-Line Method. On July 1, 2016, when the net book value of the machine was $4,500, it was sold for $4,000. The amount which should be recognized from the sale of the machine is: