Darwin acquired 60% of Monaco Company on January 1, 2020. On that date Monaco sold equipment to Darwin for $45,000. The equipment had a cost of $120,000 and accumulated depreciation of $66,000 with a remaining life of 9 years. Monaco reported net income of $300,000 and $325,000 for 2020 and 2021, respectively. Darwin uses the equity method to account for its investment in Monaco. What is the gain or loss on equipment recognized by Monaco on its internal accounting records for 2020? O a. $9,000 loss. O b. $9,000 gain. O c. $54,000 gain. O d. $21,000 gain. O e. $21,000 loss