An asset is purchased on January 1 for $43,700. It is expected to have a useful life of five years after which it will have an expected residual value of $5,800. The company uses the straight-line method. If it is sold for $31,600 exactly two years after it is purchased, the company will record a: O loss of $3,060 O gain of $3,060 O gain of $9,040. O loss of $9,040