On January $1,2018,$ The Gathering Sound, Ltd$.$ purchased a truck for $$35,000$ and uses the straight$-$line depreciation method. The truck has a useful life of five years and an estimated residual value of $$2,000.$ On December $31,2020,$ The Gathering Sound, Ltd$.$ sold the truck for $$12,500.$ What amount of gain or loss should The Gathering Sound record on December $31,2020?$

Group of answer choices

Gain of $$10,500$

Gain of $$2,700$

Loss of $$1,500$

Gain of $$1,500$

Loss of $$2,700$