5 pts On January 1, 2021, Jacob Inc. purchased a commercial truck for $60,000 and uses the straight line depreciation method. The truck has a useful life of eight years and an estimated residual value of $8,000. On December 31, 2022, the truck was exchanged for a new truck. At the time of the exchange the fair market value of the old commercial truck was $42.000. In addition to trading in the old truck, Jacob Inc. also paid $30,000 of cash for the exchange. What amount of gain or loss should Jacob Inc. record on December 31, 2022? Loss, $4,000 Loss, $18,000 O Lost $5,000 Loss, $12,000. O None of the above