An asset was acquired on August 1, 2024, for $41,000 with an estimated five-year life and $2,600 residual value. The company uses straight-line depreciation. The company calculates partial-year depreciation based on the number of months the asset is in service. What is the gain or loss if the asset was sold for $25,000 on April 30, 2026?

Multiple Choice

$2,560 loss

$7,680 loss

$5,760 gain

$11,520 gain