av & ERIT An asset was acquired on January 1, 2021, for $118,000 with an estimated five-year life and $30,000 residual value. The company uses double-declining- balance depreciation Calculate the gain or loss if the asset was sold on March 31, 2022, for $60,000. Partial-year depreciation is to be calculated. Multiple Choice $3,720 loss $33,720 tons $16.520 STAN