Waterway Industries purchased a new machine on May 1, 2012 for $553200. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $27000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2021, the machine was sold for $70800. What should be the loss recognized from the sale of the machine?

$17590.

$44590.

$0.

$27000.