On January 1, 2015, Benson, Inc

On January 1, 2015, Benson, Inc. purchased a machine for $37,200. Benson uses straight-line depreciation and estimates an eight-year useful life and a $1,200 salvage value. On December 31, 2022, Benson cannot locate a buyer for the used machine so it is scrapped.
In recording the machine retirement, Benson should reflect:

A) No gain or loss
B) A $1,200 gain
C) A $1,200 loss
D) A $28,800 loss
E) None of the above