An asset's book value is $$19,800$ on December $31,$ Year $5.$ Assuming the asset is sold on December $31,$ Year $5$ for $$13,200,$ the company should record:

Multiple Choice

Neither a gain nor a loss is recognized on this transaction.

A gain on sale of $$12,600.$

A loss on sale of $$12,600.$

A loss on sale of $$6,600.$

A gain on sale of $$6,600.$