On January $1,2021,$ Dunbar Echo Company sells a machine for $$26,600.$ The machine was

originally purchased on January $1,2019$ for $$48,700.$ The machine was estimated to have a

useful life of $5$ years and a residual value of $$0.$ Dunbar Echo uses straight$-$line depreciation. In

recording this transaction:

Multiple Choice

a loss of $$2,620$ would be recorded.

a gain of $$2,620$ would be recorded.

a loss of $$22,100$ would be recorded.

a gain of $$26,600$ would be recorded.