QUESTION $36$

On December $31,$ Strike Company traded in one of its batting cages for another one that has a cost of $$500,000.$ Strike receives a trade$-$in allowance of $$11,000.$ The old equipment had an initial cost of $$215,000$ and has accumulated depreciation of $$185,000.$ Depreciation has been recorded up to the end of the year. The difference will be paid in cash. What is the amount of the gain or loss on this transaction?

a$.$ gain of $$11,000$

b$.$ No loss or gain will be recorded

c$.$ loss of $$11,000$

d$.$ loss of $$19,000$