Question $17$

$8$ pts

On January $1,2020,$ Houtly Company sold a machine for $$3,000$ cash. The machine cost was $$8,500,$ and it had an accumulated depreciation of $$5,200$ and book value of $$3,300$ at the time of sale. What gain or loss will be reported on the income statement for the sale of the machine?

The asset will have a gain or loss?

The dollar value is