A company bought a machine on 1 October year 1 for $52,000. The machine had an expected life of eight years and an estimated residual value of $4,000. On 31 March year 6, the machine was sold for $35,000. The companys yearend is 31 December. The company uses the straight-line method for depreciation and it charges a full years depreciation in the year of purchase and none in the year of sale. What is the profit or loss on disposal of the machine? A. Loss $13,000 B. Profit $7,000 C. Profit $10,000 D. Profit $13,000