42. Booth Company purchased a new machine on May 1, 2008 for $38,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated residual value of $2,000. The company had recorded monthly depreciation using the straight-line method. On March 1, 2017, the machine was sold for $6,000. What should be the loss recognized from the sale of the machine? a. b. c. d. $0 $200 $2,000 $2,200