Keating Co. is considering disposing of equipment that cost $61,000 and has $42,700 of accumulated depreciation to date. Keating Co. can sell the equipment through a broker for $26,000 less a 9% commission. Alternatively, Gunner Co. has offered to lease the equipment for five years for a total of $49,000. Keating will incur repair, insurance, and property tax expenses estimated at $9,000 over the five-year period. At lease-end, the equipment is expected to have no residual value. The net differential profit or loss from the sell alternative is a

a.$11,438 loss

b.$16,340 loss

c.$24,510 profit

d.$19,608 profit