On January 1, 2018, Hillary Corporation purchased for $515,000 equipment having a useful life of ten years and an estimated salvage value of $12,000. The company recorded depreciation of the equipment on the straight-line method. On December 31, 2025, the equipment was sold for $90,000. As a result of this sale, Hillary should recognize:

Select one: a. $0 b. A loss of $72,900 c. A gain of $112,600 d. A loss of $22,600