On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $262,378.00 with an accumulated depreciation of $236,140.20. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $23,614.02. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $26,237.80 Loss of $26,237.80 Gain of $2,623.78 Loss of $2,623.78