MoveIt Corporation is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $17,000. MoveIt had originally purchased the vehicle and recorded it in the Truck account for $29,000 and had recorded depreciation for three years.

Calculate the amount of gain or loss on disposal, assuming that Accumulated DepreciationTruck was

(a) $12,000

(b) $8,000

(c) $14,000