On 1/1/18, Titan Corporation acquired new warehouse equipment with a cost of $70,000. Titan also paid sales tax of $5,000 and installation/delivery costs of $25,000 related to this equipment. As of 7/31/20 Titan has deducted $20,000 in depreciation and $5,000 in Section 179 deduction on this equipment. On 7/31/20 the equipment was sold for $65,000. What was the gain or loss realized on the sale of the equipment in 2020? livery costs of $25,000 related to this equi O $10,000 gain on sale ($5,000) loss X ($35,000) loss O ($10,000) loss