Question 20 (2 points) On January 1, year 1, ABC, Ltd. purchased a piece of equipment with a cost of $ 140000. The equipment has a useful life of 5 years and a residual value of $ 25000 and is being depreciated under the straight line method. The equipment was sold on July 1, year 5 for $ 90000. Calculate the gain or loss on disposal. If the amount is a gain, enter the answer as a positive amount below (I.e. 20000). If the ainount is a loss, enter the answer as negative amount below (I.e. -20000)