An asset was acquired on September 30, 2021, for $100,000 with an estimated five-year life and $20,000 residual value. The company uses double-declining-balance depreciation. Calculate the gain or loss if the asset was sold on December 31, 2022, for $50,000. Partial-year depreciation is to be calculated. (Hint: We know the gain/loss on sale of property=Book value -Selling price] A) $1,200 gain. B) $14,000 gain. C) $16,000 loss. D) $4,000 loss. O AA B.B OC.C D.D