An asset was acquired on January 1, 2024, for $22,000 with an estimated four-year life and $2,000 residual value. The company uses straight-line depreciation. What is the gain or loss if the asset was sold on December 31, 2026, for $8,200?

Multiple Choice

$1,200 gain

$3,800 loss

$3,200 gain

$1,200 loss