The Rylаnd Cоmpаny purchаsed a new stоrage facility оn January 1, 2021 for $17,040 and expects to use it for eight years at which time it can be sold for an estimated $1,200. If the company sold the equipment on January 31, 2024 for $10,600, what amount of gain or loss would it report on the sale? Use a positive number to indicate a gain or a negative number to indicate a loss.