Sanchez Enterprises purchased equipment on March 18, 2018, at a cost of $40,000. The equipment was expected to have a 10-year service life, $4,000 in residual value. Sanchez uses the declining balance (150%) method to calculate depreciation. On November 21, 2020, the equipment was sold for $30,000. Assuming Sanchez used the full-month, half-year and full-year (beginning of period) conventions, respectively, what amount of gain or loss would be recognized on the sale date