A vehicle acquired for Rs.54,000 on 1st October 2014 was sold for Rs.38,500 on 30 April 2017. Vehicles are depreciated evenly over five years, time apportioning the depreciation expense. Determine the gain or loss on disposal of the vehicle

Select one:

a. Rs. 1400 loss,

b. Rs.12400 gain,

c. Rs. 12400 loss

d. Rs.1200 gain,