Sumner Company has an asset that cost $$35,0005$ years ago. The asset currently has accumulated depreciation of $$30,000.$ Sumner sells the asset for $$9,000.$

Which of the following is correct?

Sumner Company has an asset that cost $$35,0005$ years ago. The asset currently has accumulated depreciation of $$30,000.$ Sumner sells the asset for $$9,000.$

Which of the following is correct?

A loss of $$4,000$ should be recognized.

A loss of $$21,000$ should be recognized.

A gain of $$4,000$ should be recognized.

A gain of $$21,000$ should be recognized.