Carter Company disposed of an asset at the end of the eighth year of its estimated life for $21,500 cash. The asset's life was originally estimated to be 10 years. The original cost was $65,400 with an estimated residual value of $6,400. The asset was being depreciated using the straight-line method. What was the gain or loss on the disposal? $21,500 gain. $3,300 gain. $9,700 loss. $15,600 gain