An asset that cost $$20,000$ and on which depreciation of $$15,000$ has been recorded is traded in on a new replacement asset. The sales price, also the fair value, of the new asset is $$27,000.$ The owner of the old asset was given an allowance of $$7,000$ for the old asset and paid $$20,000$ in cash. For financial accounting purposes, what is the amount of gain or loss recorded?

$$ a$.$ a gain of $$2,000$

b$.$ no gain or loss

c$.$ a loss of $$2,000$

d$.$ a gain of $$7,000$