On January 1, 2018, Lumos Company purchased a machine for $70,200. Lumos uses straight-line depreciation and estimates an eight-year useful life and an $5,400 salvage value. On December 31, 2021, Lumos sells the machine for $42,000. In recording this sale, Lumos should reflect:

Select one:

A. A $4,200 gain

B. A $9,600 gain

C. A $1,200 loss

D. No gain or loss