Here are some facts for you for a question regarding the sale/disposal of a piece of PPE (property, plant and equipme. Let's say that there is a large piece of factory machinery that had original (historical) cost of $240,000. We know that as we depreciate equipment, we have to consider the accumulated depreciation that has been taken on a all of the PPE assets. In this question, we will assume that there is $228,000 of accumulated depreciation take on this equipment, up to the date of the disposal. The company had used a depreciation method that is permitted by GAAP. The selling price of the PPE asset is $28,000. Last year the depreciation taken on the asset was $4,000. What is the amount of the gain or loss on disposal of the plant asset? a 0 4,000 GAIN O $16,000 GAIN O $12,000 LOSS O $28,000 LOSS $28,000 GAIN