Carter Company disposed of an asset at the end of the eighth year of its estimated life for $23,000 cash. The asset's life was originally estimated to be 10 years. The original cost was $68,700 with an estimated residual value of $6,700. The asset was being depreciated using the straight-line method. What was the gain or loss on the disposal? $23,000 gain. $10,600 loss. $3,900 gain. $16,800 gain