On July 1, 2021, Hale Kennels sells equipment for $218000. The equipment originally cost $605000, had an estimated 5-year life and an expected salvage value of $90000. The accumulated depreciation account had a balance of $353000 on January 1,2021 , using the straight-line method. The gain or loss on disposal is $17500 gain. $17500 loss. $34000 loss. $34000 gain