On January $1,2021,$ Dunbar Echo Company sells a machine for $$23,000.$ The machine was originally purchased on January $1,2019$ for $$40,000.$ 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:

a

a loss of $$1,000$ would be recorded.

b

a gain of $$1,000$ would be recorded.

c

a loss of $$17,000$ would be recorded.

d

a gain of $$23,000$ would be recorded.