On December 31, Strike Company sold one of its batting cages for $12,450. The equipment had an initial cost of $419,700 and has accumulated depreciation of $398,715. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Oa. loss of $8,535 Ob. gain of $8,535 Oc. loss of $12,450 Od. gain of $12,450