Metal Company acquired recycling equipment on October 1, 2015, at a cost of $117.500, has an estimated useful life of 10 years, an estimated salvage value of $7,500, and is depreciated by the straight-line method. Assuming that the equipment was sold on July 1, 2019. for $73,500, the sale of the equipment would result in a A. loss of $13,750 B. loss of $5,500 C. gain of $4,750 D. loss of $2,750 E gain of $63