Taylor Company purchased a machine for $9,800 on January 1, 2019. The machine has been depreciated using the straight-line method assuming it has a five-year life with a $1,400 residual value. Taylor sold the machine on January 1, 2021, for $7,600. The book value as of December 31, 2020 is $6,440. What gain or loss should Taylor record on the sale? OA. Gain, $800 O B. Loss, $1,160 O C. Loss, $520 O D. Gain, $1,160 1 0