Marios Company has a piece of equipment they purchased for $80,000 on Jan. 1 2018. On Oct. 1 2020, they sold the equipment for $55,000. Accumulated deprecation at the time of the sale was $12,000. Marios would record:

Select one:

a. A gain of $55,000

b. A loss of $25,000

c. A loss of $13,000

d. A gain of $5,000