On July 1, 2021, Hale Kennels sells equipment for $211000. The equipment originally cost $594000, had an estimated 5 -year life and an expected salvage value of $109000. The accumulated depreciation account had a balance of $341000 on January 1. 2021, using the straight-line method. The gain or loss on disposal is $6500 loss. $42000gain. $42000 loss. $6500 gain