On July 1, 2022, Blossom Company sells equipment for $130000. The equipment originally cost $490000, had an estimated 5-year life and an expected salvage value of $30000. Accumulated Depreciation had a balance of $322000 on January 1, 2022, using the straight-line method. The gain or loss on disposal is $8000 loss. $8000 gain. O $38000 gain. $38000 loss