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New Deli is in the process of closing its operations. It sold its three$-$year$-$old ovens to Sicily Pizza for $$295,900.$ The ovens originally cost $$394,500,$ had an estimated service life of $10$ years, had an estimated residual value of $$24,500,$ and were depreciated using straight$-$line depreciation. Complete the requirements below for New Deli.

$3.$ What is the gain or loss on the sale of the ovens at the end of the third year?