Hamilton Company purchased a machine for $11, 800 on January 1, 2016. The machine has been depreciated using the straight-line method over a four-year life with a $1, 600 residual value. Hamilton sold the machine on January 1, 2018. for $8,000. The book value as of December 31, 2017 is $6, 700. hat gain or loss should Hamilton record on the sale? A. Gain, $1, 300 B. Gain, $2, 200 C. Loss, $1, 250 D. Loss, $1, 300