$On$ July $1,2021,$ Hale Kennels sells equipment for $$216000.$ The equipment originally cost $$602000,$ had $an$ estimated $5-$year life and $an$ expected salvage value $of$

$$100000.$ The accumulated depreciation account had a balance $of$ $$344000on$ January $1,2021,$ using the straight$-$line method. The gain $or$ loss $on$ disposal $is$

$$42000$ gain.

$$8200$ loss.

$$42000$ loss.

$$8200$ gain.