Thompson Company had the following excerpt from its financial records:

Additional Resources

	/12/312022	/12/312021
Equipment	$827,000	$757,000
Accumulated Depreciation	469,000	437,000
Book Value	$358,000	$320,000

The following information is taken from Thompson Company's records:

1. Depreciation expense for 2022 and 2021 was $83,000 and $90,000, respectively.
2. Equipment was purchased during 2022 for $135,000 cash.
3. Equipment was sold during 2022 for $28,000.

Required:

Compute the gain recognized on the sale of the equipment.