On 1/1/X2, Hudson Enterprises decided to sell equipment it had been using in its business for $25,000 cash. The following data are available for the equipment as of the disposal date: Cost $200,000 Original estimated residual value 25,000 Accumulated Depreciation as of 12/31/X1 160,000 Question: How much gain or loss should be recorded on the sale of this asset? Answer: The company should report a _____ (gain or loss) of $ ___

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