A plant asset cost $1,000,000$ when it was purchased on January $1,2013.$ It was depreciated by the straight$-$line method based on a $9-$year life with residual value of $100,000.$ On June $30,2020,$ the asset was discarded with cash proceeds of $150,000.$ What gainloss should be recognized on the retirement? one:

a$.$ No gainloss.

b$.100,000$ loss.

c$.150,000$ gain.

d$.250,000$ loss.