An asset was acquired on August 1, 2021, for $24,000 with an estimated five-year life and $1,500 residual value. The company uses straight-line depreciation. Calculate the gain or loss if the asset was sold on April 30, 2023, for $14,000. Partial-year depreciation is calculated based on the number of months the asset is in service. Multiple Choice $4,500 loss. $3,375 gain. $2,125 loss. $6,750 gain