On August 1, 2020, Major Link Inc. purchased a new piece of equipment that cost $25,000. The estimated useful life is five years, and estimated residual value is $2,500. Assume that Major Link uses the straight-line method of depreciation and sells the equipment for $11,500 on August 1, 2024. Based on the result of the sale of the equipment, what gain (or loss) will Major Link realize? OA. $4,500 OB. $13,500 OC. $(9,000) OD. $0