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Freeman Engineering paid $46,000 for specialized equipment for use with their new global positioning system/geographic information...

Freeman Engineering paid $46,000 for specialized equipment for use with their new global positioning system/geographic information system (GPS/GIS). The equipment was depreciated over a 3-year recovery period using Modified Accelerated Cost Recovery System (MACRS) depreciation. The company sold the equipment after 2 years for $4,000 when it purchased an upgraded system. Determine the amount of the depreciation recapture or capital loss involved in selling the asset.

The amount of capital loss is determined to be $

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