Saved Help Save & Exit SO An asset's book value is $18,700 on December 31, Year 5. The asset has been depreciated at an annual rate of $3,700 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $15,700, the company should record: Multiple Choice Again on sale of $2,550 A loss on sale of $3,000 A loss on sale of $2,550. A gain on sale of $3,000. Neither again nor a loss is recognized on this type of transaction