Peters Company purchased a machine for $10,400 on January 1, 2016. The machine has been depreciated using the straight-line method assuming it has a five-year life with a 5800 residual value. Peters sold the machine on January 1, 2018, for $8,200. The book value as of December 31, 2017 is $6,560. What gain or loss should Peters record on the sale? O A. Loss, $1,640 OB. Gain, $1,640 O C. Loss, $280 O D. Gain, $1,400