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Sue Company purchased a long-lived asset years ago at $3,000,000. Accumulated depreciated to date on...

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Accounting

Sue Company purchased a long-lived asset years ago at $3,000,000. Accumulated depreciated to date on the asset is $1,400,000. Management is contemplating disposing off the assets at $1,200,000. If it did, what would be the loss or gain on disposal?
Select one:
a. $1,800,000 loss
b. $1,600,000 loss
c. $400,000 loss
d. $1,800,000 gain

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