An asset is purchased on January 1 for $41, 200. It is expected to have a useful life of four years after which it will have an expected residual value of $5, 300. The company uses the straight-line method. If it is sold for $30, 600 exactly two years after it is purchased, the company will record a: loss of $7, 350. gain of $3, 250. loss of $3, 250. gain of $7, 350