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Ngu owns equipment that cost $97,100 with accumulated depreciation of $66,400. Ngu asks $35,900 for...

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Accounting

Ngu owns equipment that cost $97,100 with accumulated depreciation of $66,400. Ngu asks $35,900 for the equipment but sells the equipment for $33,600. Compute the amount of gain or loss on the sale.

A.) $2,300 gain.

B.) $5,200 loss.

C.) $2,900 gain.

D.) $5,200 gain.

E.) $2,900 loss.

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