An asset was purchased for $34,000 on January 1, 2019. The asset's estimated useful life was five years, and its residual value was $7,000. The straight-line method of depreciation was used. Calculate the gain or loss if the asset is sold for $26,000 on December 31, 2019, the last day of the accounting period. A. $1,300 gain B. $2,600 gain C. $2,600 loss D. no gain or no loss