Rhoundakona Corporation bought property, plant, and equipment on January 1, 2017, at a cost of $35,000. Estimated residual value is $5,000 and the estimated useful life is 8 years. The company uses straight-line depreciation. On January 1, 2020, Rhoundakona's management sells the asset for $25,000. The gain or loss on disposal is A. $1,250 gain B. $10,000 loss C. $1,250 loss D. $25,000 gain