A company sells a long-lived asset which originally cost $150,000 for $50,000 on December 31, 2021. The accumulated depreciation account had a balance of $60,000 after the current year's depreciation of $15,000 had been recorded. The company should recognize a

$25,000 loss on disposal.

$40,000 gain on disposal.

$100,000 loss on disposal.

$40,000 loss on disposal.