A Company Sold Equipment That Originally Cost $100,000 for $60,000

A company sold equipment that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the equipment was $40,000. The company should recognize a:

A) $20,000 loss.
B) $60,000 gain.
C) $20,000 gain.
D) $40,000 loss.
E) $0 gain or loss.