On August 6, 2019, a business placed into service a piece of machinery costing $50,000. It was the only asset purchased that year. On April 6, 2022, the business sold the machinery for $22,000. How much gain or loss should the business report on

Form 4797?

On August 6,2019 , a business placed into service a piece of machinery costing $50,000. It was the only asset purchased that year. On April 6,2022, the business sold the machinery for $22,000. How much gain or loss should the business report on Form 4797? $3,258 $3,428 ($3,285) $3.285