The records of Toranado Company showed the following information about a delivery truck purchased for $$68,500$:

Accumulated depreciation at December $31,$ Year $3$

$$24,000$

Depreciation for the first six months of Year $4$

$$4,000$

On July $1,$ Year $4,$ the machine was sold for $$37,200.$ How much is the gain or loss on disposal?

Select one:

a$.$

$ $3,300$ loss

b$.$

$ $3,300$ gain

c$.$

$ $7,300$ loss

d$.$

$$30,800$ loss