Yanik Company's delivery truck, which originally cost $84,000, was destroyed by fire. At the time of the fire, the balance of the Accumulated Depreciation account amounted to $57,000. The company received $48,000 reimbursement from its insurance company. The gain or loss as a result of the fire was

Select one:

a. $36,000 loss.

b. $21,000 gain.

c. $36,000 gain.

d. $21,000 loss.

Depletion is

Select one:

a. the amount of spoilage that occurs when natural resources are extracted.

b. the method used to record unsuccessful patents.

c. a decrease in market value of natural resources.

d. the allocation of the cost of natural resources to expense.