Brief Exercise $8-16($Static$)$ LIFO liquidation $[$LO$8-6]$

Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $$500,000(20,000$ units at $$25$ each$).$ During the year, $80,000$ units were purchased, all at the same price of $$30$ per unit. $85,000$ units were sold during the year.

Assuming an income tax rate of $25\%,$ what is LIFO liquidation profit or loss that the company would report in a disclosure note accompanying its financial statements?