113. Dirt Corporation schedule of depreciable assets at December 31, 20x7 was as follows:

Asset Cost Accum. Depreciation Acquisition date Residual Value

A 100,000 64,000 20x6 20,000

B 55,000 36,000 20x5 10,000

C 70,000 33,600 20x5 14,000

Dirt takes a full year's depreciation expense in the year of an asset's acquisition, and no depreciation expense in the year of an asset's disposition. The estimated useful life of each depreciable asset is 5 years.

Dirt depreciates asset C by the straight-line method. On June 30, 20x8, Dirt sold asset C for 28,000 cash. How much gain (loss) should Dirt record in 2008 on the disposal of asset C?

• P2,800
• (P8,400)
• (P5,600)
• (2,800)
• Answer not given