Net income for year 20X1 was $216,000.2. The company declared and paid a cash dividend of $132,800.3. The only posting to the net equipment account was for depreciation expense of $35,000 (i.e., no equipment was sold).4. MKH sold land worth $19,200 for $8,000 cash.5. The company retired $148,400 worth of bonds payable at the beginning of the year.1. What was the loss on the sale of land recorded by MKH Company in 20X1?$11,200$8,000$0$19,200