On 1/1/X2, Davis Inc., a local building contractor, decided to sell one of its machines for $11,000 cash. The following data are available for the machine as of the disposal date:

On 1/1/X2, Davis Inc., a local building contractor, decided to sell one of its machines for $11,000 cash. The following data are available for the machine as of the disposal date: Cost $100,000 Original estimated residual value 1,000 Accumulated Depreciation as of 12/31/X1 85,000 Question: How much gain or loss should be recorded on the sale of this asset? Answer: The company should report a of $ (do not use commas or a decimal point in the answer)