What is the amount of Gain or Loss recognized on the disposition? Enter a Gain as a positive number or a Loss as a negative number or Zero if neither is recognized.

R&R purchased a piece of equipment on October 18, 20X1. The details below describe that purchase and the remainder of their fixed asset purchases during the year: Purchase Price of Equipment Residual Value on Equipment Recovery Period per IRS Guidelines Total Assets Purchased During the Year $50,000 $- 7 years $180,000 (Excluding the New Equipment) Amount of Total Assets Purchased in $60,000 Q4 (Excluding the new asset if it was purchased in Q4) Assume we disposed of the asset on: Assume we were offered the following May 16, 20X3 amount for our asset on the disposition $35,000 date: