On June 1, 2004, XYZ Company paid $360,000 to purchase land, building, andequipment. The market value of these assets on that date were: land $90,000;building $260,000; equipment $50,000. Before the facilities could be used,XYZ Company had to spend $4,000 to put the equipment in working order and$15,000 to renovate the building.The equipment was then estimated to have a useful life of 10 years with a$7,000 salvage value. The equipment will be depreciated using the straight-linemethod.On December 31, 2010, XYZ Company sold the equipment for $26,000 cash.Calculate the amount of the gain recorded on the sale. Enter your answer as anumber (i.e., 2,000). Do not use a minus sign, decimals, or type the word gainafter your answer.