Bob owned equipment (FMV $50,000) that he used in his business.
The equipment was subject to a $20,000 loan. Bob purchased the
equipment in 2015 for $100,000. While he owned the equipment, Bob
took depreciation deductions of $52,000. Bob sold the equipment in
2017 for $30,000, and the buyer assumed Bob's loan of $20,000 on
the equipment. Bob's selling expenses were $500.
What is the amount of Bob's recognized gain or loss?