QUESTION 20 JJ Company decided to dispose of an equipment at the end of the sixth year of its estimated life for $40,000 cash. The original cost was $100,000 with an estimated residual value of $6,000. The asset's life was originally estimated to be 10 years. The asset was being depreciated using the straight-line method. What was the gain or loss on the disposal? a $16,400 loss b. $3.600 gain c. $3,600 loss d. $16.400 gain