Yanik Company's Delivery Truck, Which Originally Cost $70,000, Was Destroyed

Yanik Company's delivery truck, which originally cost $70,000, was destroyed by fire. At the time of the fire, the balance of the Accumulated Depreciation account amounted to $47,500. The company received $40,000 reimbursement from its insurance company. The gain or loss as a result of the fire was

A) $30,000 loss.
B) $17,500 loss.
C) $30,000 gain.
D) $17,500 gain.