Entity A acquired an asset that had a cost of P130,000. The asset is being depreciated over a 5-year period using the sum-of-the-years' digit method. It has a salvage value estimated at P10,000. The loss/gain if the asset is sold for P38,000 at the end of the third year is

a. P4,000 gain b. P20,000 loss

c. P68,000 loss d. P92,000 loss

WITH SOLUTION PLS