Sam owns a courier business and on 1 November 2022 purchased a new van for $42,000 which has an effective life of 8 years. To help fund the purchase of the new van Sam traded his old one for $8,000. The old van had cost Sam $34,000 originally and had an adjustable value at the time of trade-in of $5,200. Assuming Sam is not using the Small Business Entity (SBE) depreciation method of depreciation, what would be the balancing adjustment on disposal of the old van?