An asset was purchased for $26,000 on January 1, 2019. The asset's estimated useful life was five years, and its residual value was $12,000. The straight-line method of depreciation was used. Calculate the gain or loss if the asset is sold for $18,000 on December 31, 2019, the last day of the accounting period. A. B. C. D. $5,200 gain $5.200 loss $2,600 gain no gain or no loss