On Jan 1, 2020, Elway Inc purchases a piece of equipment for $55,000. The equipment has a $3,000 salvage value and a useful life of 4 years or 130,000 units of production. Elway uses the units of production method of depreciation. After producing 60,000 units, Elway sells the equipment for $30,000 cash. What is Elway's gain or loss on the disposal of the equipment