Xavier depreciates his machinery over 10 years using the straight-line method. On 31 December 2012 he sold a machine which he had owned for exactly 7 years. Its original cost was £ XXXXXXXXXXThe sale...

Xavier depreciates his machinery over 10 years using the straight-line method. On 31 December 2012 he sold a machine which he had owned for exactly 7 years. Its original cost was £73 730. The sale proceeds were £30 000.

What is the profit or loss on the sale of the machinery?