Part 5: Gain or Loss on Sale of Assets. 21 points On January 1, 2020, MordoCorp purchased an Infinity Stone for $1,000,000. The firm depreciates all its assets Straight-Line (SL). Management estimated the useful life of the asset at 10 years, with a residual value of $100,000. On October 1, 2022 (partial year!), the firm sold the Infinity Stone for $800,000 cash. Required: Compute Gain or Loss on Sale of Asset. Record in your Solution BOX this number: Gain or Loss, as in: Loss $444,444