Bennie Razor Company has decided to sell one of its

old manufacturing machines on June 30, 2019. The

machine was purchased for $80,000 on January 1,

2015, and was depreciated on a straight-line basis for

10 years assuming no salvage value. If the machine

was sold for $26,000, what was the amount of the

gain or loss recorded at the time of the sale?

(a) $18,000.

(b) $54,000.

(c) $22,000.

(d) $46,000.