Oriole Ltd$.$ has a December $31$ year end. On April $2,2024,$ Oriole purchased a piece of equinment at a cost of $$202,000.$

Oriole's management estimated that this piece of equipment would have a useful life of five years and a residual value of $$40,000.$ Oriole uses the straight$-$line method for depreciating its manufacturing equipment.

If Oriole sold the piece of equipment on June $30,2026,$ for $$119,600,$ what amount of gain or loss would have to be recorded?

The amount of

$\_\_\_\_\_$on disposal

$