Crouch Company purchased a new machine on May 1, 1998 for $176,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $8,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2007, the machine was sold for $24,000. What should be the loss recognized from the sale of the machine? a. $0. b. $3,600. C. $8,000. d. $11,600