Monica Inc. has decided to sell a piece of machinery that they no longer use in their production process. On January 1, 2018, Monica sells the machinery for $25,800. When the machine was purchased on January 1, 2016, Monica Inc paid $46700 including the cost of freight and installation. The machine was estimated to have a useful life of 5 years with no residual value. Monica Inc. will include which of the following when recording the sale of the equipment: Multiple Choice C) a loss of $2,220 would be recorded. O again of $25,800 would be recorded. o O a loss of $20,900 would be recorded. o o gain of $2,220 would be recorded