Vaughn Manufacturing purchased a new machine on May 1, 2012 for $550800. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $30000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2021, the machine was sold for $82200. What should be the loss recognized from the sale of the machine?

$8560.

$30000.

$38560.

$0.