On January 3, 2021, Tracer Incorporated purchased a patent for $474,000 to manufacture a new type of chair. The patent has a remaining legal life of 12 years. Tracer plans to manufacture the chair for eight years and then sell the patent for $58,000. The company amortizes intangible assets using the straight-line method. On December 29, 2023, Tracer decides to sell the patent for $333,000. Assuming the company has a December 31 year-end, what is the gain or loss recorded on the sale of the patent? Multiple Choice $14,500 gain $15,000 gain. $71,000 loss. $15,000 loss