Mason Company sold a piece of equipment for $30,000 cash on December 31 after recording the annual depreciation on the asset. The equipment had an original cost of $94,500 and accumulated depreciation of $60,000.

In the space provided, indicate whether Mason had a gain or loss on the sale by typing either gain or loss.

How much of a gain or loss did Mason have? (Type only the amount. Omit any $, commas, or decimal points.)