Carter Company disposed of an asset at the end of the elghth year of Its estimated life for $24,000 cash. The asset's life was originally estimated to be 10 years. The original cost was $70,900 with an estlmated residual value of $6,900. The asset was belng depreclated using the stralght-line method. What was the gain or loss on the disposal? O $24.000 gain O $17600 galn. $11,200 loss. $4,300 gain