An asset was acquired on September 30, 2021, for $118,000 with an estimated five-year life and $30,000 residual value. The company uses double-declining-balance depreciation. Calculate the gain or loss if the asset was sold on December 31, 2022, for $60,000. Partial- year depreciation is to be calculated. Multiple Choice $33,720 loss. O $16,520 gain. $3,720 loss. O $1,416 gain.