On January 1, 2021, Jacob Inc. purchased a commercial truck for $80,000 and uses the straight-line depreciation method. The truck has a useful life of eight years and an estimated residual value of $8,000. On December 31, 2022, the truck was exchanged for a new truck. At the time of the exchange the FMV of the old commercial truck was $56,000. In addition to trading in the old truck. Jacob Inc. also paid $30,000 of cash for the exchange. What amount of gain or loss should Jacob Inc. record on December 31, 2022? O Loss, $6,000 O Gain, $6,000. O Gain, $26,000. O Loss, $24,000. O None of the above