On December 31, 2019, Hamilton Inc. sold a used industrial crane for $1,090,000 cash. The original cost of the crane was $5.34 million and its accumulated depreciation equaled $4.37 million on December 31, 2019. What is the gain or loss from the December 31, 2019 equipment sale? Multiple Choice $120,000 loss $120,000 gain O $970,000 gain $970,000 loss