Ontario Ltd. purchased a machine on January 1, 2019 for $750,000. The machine had an estimated useful life of 5 years and an estimated residual value of $50,000. The company uses straight-line depreciation and records monthly depreciation. The machine was sold on December 31, 2022 for $200,000. What was the gain/loss on disposal of the machine?

A. 50000 loss

B. 10000 loss

C. 50000 gain

D. 10000 gain