Xenia no longer needs a second van in her business, and so she decides to sell it. The van originally cost £8300 and by Xenia’s year-end of 31 March 2012 depreciation had accumulated of £6330. She...

Xenia no longer needs a second van in her business, and so she decides to sell it. The van originally cost £8300 and by Xenia’s year-end of 31 March 2012 depreciation had accumulated of £6330. She sells the van for £2380 on 1 April 2012.

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