Sue Company purchased a long-lived asset years ago at $3,000,000. Accumulated depreciated to date on the asset is $1,400,000. Management is contemplating disposing off the assets at $1,200,000. If it did, what would be the loss or gain on disposal? Select one: a. $1,800,000 loss b. $1,600,000 loss c. $1,800,000 gain d. $400,000 loss