16-On July 1, 2014, Hale Kennels sells equipment for $110,000. The equipment originally cost $300,000, had an estimated 5-year life and an expected residual value of $50,000. The accumulated depreciation account had a balance of $175,000 on January 1, 2014, using the straight-line method. The gain or loss on disposal is a. $15,000 gain. 25.ooo b. $10,000 loss. c. $15,000 loss. 275,ooo BU=3000,00 d. $10,000 gain