The WeylandCorporation purchased some equipment on October 1st for $40,080 and expects that it will be useful for 12 years at which time it could be sold for $4,800.The company used the equipment for the rest of the current year and an additional three years after that; if the equipment were sold for $32,000 at that point, what amount of gain or loss would the company report on the sale?Use a positive number to indicate a gain or a negative number to indicate a loss.