On January 1, 2012, Crane Company purchased for $726000, equipment having a useful life of ten years and an estimated salvage value of $48600. Crane has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $120000. As a result of this sale, Crane should recognize a gain of $0. O $3660. $52260. O $120000