Hi, please provide step-by-step answer of the following problem:

On January 1, 2012, Sheffield Corp. purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $42600. Sheffield has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $125000. As a result of this sale, Sheffield should recognize a gain of

a)125,000

b)0

c)9,860

I know that answer is C but I need steps to understand. Please, help me as soon as possible

Thank you