An asset's book value is $43,200 on January 1, Year 6. The asset is being depreciated $600 per month using the straight-line method. Assuming the asset is sold on July 1, Year 7 for $29,400, the company should record

A. Neither a gain or loss is recognized on this type of transaction.

B. A gain on sale of $3,000.

C. A loss on sale of $1,500.

D. A gain on sale of $1,500.

E. A loss on sale of $3,000.