On December $31,2022,$ Hamilton Incorporated sold a used industrial crane for $$1,060,000$ cash. The original cost of the crane was $$5\mathrm{.}30$ million and its accumulated depreciation equalled $$4\mathrm{.}35$ million on December $31,2022.$ What is the gain or loss from the December $31,2022$ equipment sale?Multiple Choice$$950,000$ gain$$110,000$ gain$$950,000$ loss$$110,000$ loss