Quinto Ltd acquired an equipment on 1 July 2019 for $50,000 with a remaining useful life of 5 years. The depreciation rate is 20% per annum straight-line for both tax and accounting purposes. Parker Ltd adopts the revaluation model for this asset. At 30 June 2020, the fair value of the equipment is $45,000. On 1 July 2020, the equipment was unexpectedly sold for $42,000.

Ignoring the tax effect, the disposal of the asset on 1 July 2020 results in?