On December 31, 2013, Stable Company sold a piece of equipment that was purchased on January 1, 2008. The equipment originally cost $920,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain/loss on the sale of equipment that Stable will recognize if the equipment was sold for $260,000?

a.$0; no gain or loss

b.$30,000 loss

c.$260,000 gain

d.$30,000 gain

e.$145,000 gain