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On July 1, 2020, Wireless Link Inc. purchased a new piece of equipment that cost $65,000. The estimated useful life is eight years, and

On July 1, 2020, Wireless Link Inc. purchased a new piece of equipment that cost $65,000. The estimated useful life is eight years, and estimated residual value is $6,000. Assume that Wireless Link uses the straight-line method of depreciation and sells the equipment for $38,000 on July 1, 2024. Based on the result of the sale of the equipment, what gain (or loss) will Wireless Link realize? OA. $(14,750) OB. $2,500 C. $27,000 D. $0

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