An asset was purchased for $27,000 on January 1, 2019. The asset's estimated useful life was five years, and its residual value was $11,000. The straight line method of depreciation was used. Calculate the gain or loss if the asset is sold for S20,000 on December 31, 2019, the last day of the accounting period. A $3,800 gain O B. $3,800 loss O C. $1,900 gain D. no gain or no loss