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Required information [The following information applies to the questions displayed below) East Mill Pizzerio is closing its business. It sold its two-year-old pizza ovens to Marco's Italian Restaurant for $600,000 Originally, East Mill acquired the pizza ovens at a cost of $800,000. The ovens had an estimated useful life of 10 years, an estimated residual value of $50,000, and were depreciated using straight-line depreciation Complete the requirements below for East Mill Pizzeria 3. What is the gain or loss on the sale of the ovens at the end of the second year