on december 31, tradewinds company decides to trade in one of its ships for another one that has a cost of $810,000. the seller of the ship is willing to give a trade-in allowance of $60,000. the initial cost of the old equipment was $610,000 with an accumulated depreciation of $570,000. depreciation has been taken up to the end of the year. the difference will be paid in cash. what is the amount of the gain or loss on this transaction?