Mercury Inc. purchased equipment in 2019 at a cost of $169,000. The equipment was expected to produce 300,000 units over the next five years and have a residual value of $49,000. The equipment was sold for $103,800 part way through 2021. Actual production in each year was: 2019=42,000 units; 2020=67,000 units; 2021=34,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date. Required: 1. Calculate the gain or loss on the sale. Calculate the gain or loss on the sale. (Do not round intermediate calculations.)