On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $256,537.00 with an accumulated depreciation of $230,883.30. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $23,088.33. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $25,653.70 Loss of $25,653.70 Loss of $2,565.37 Gain of $2,565.37