Kodiak Industries purchased a new machine for $800,000. This machine is expected to operate for 6 years after which it will be sold for salvage value (estimated to be $200,000). It depreciates this asset under the straight-line method. It sells the machine after four full years of service for $500,000. What is the amount of gain or loss recognized on the sale? Group of answer choices $300,000 gain ($300,000) loss $100,000 gain ($100,000) loss no gain or loss on sale of asset