Phantom Corporation purchased equipment for $50,000, four years ago. The accumulated depreciation to date is $41,360. If they were able to sell the equipment today for $20,000, what would be the amount of tax due? Assume the company is in the 34% tax bracket.

a) 12,000

b) 8,640

c) 3,862

d) 11, 360

e) 1,931