On July 1, 2017 Amherst Co

On July 1, 2017 Amherst Co. sells equipment for $22,000. The equipment originally cost $60,000, had an estimated 5-year life and an expected residual value of $10,000. The accumulated depreciation account had a balance of $35,000 on January 1, 2017, using the straight-line method. The gain or loss on disposal is

A) $3,000 gain.
B) $2,000 loss.
C) $3,000 loss.
D) $2,000 gain.