ABC Corp purchased a machine on April 30, Year 4 by trading in its old machine and paying the balance in cash. The list price of the new machine was $15,009, cash paid on the exchange was $9,499, original cost of old machine was $10,641, accumulated depreciation of old machine on December 31, Year 3, was $5,987, and the market value of old machine was 54,939 at the time of exchange. The old machine had a five-year useful life when originally purchased three years ago and a $665 residual value Straight-line depreciation was used. Assume that the fiscal year ends on December 31 and the transaction is considered a monetary transaction with commercial substance. What should be the gain or loss on disposal of the old machine recorded in this exchange? tian O a $903 O b. $974 OC. $926 Od $879 e $950