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Carter Company sold an asset at the end of the eighth year of its estimated life for $10,000 cash

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Carter Company sold an asset at the end of the eighth year of its estimated life for $10,000 cash. The asset's life was originally estimated to be 10 years. The original cost was $50,000 with an estimated residual value of $5,000. The asset was being depreciated using the straight-line method. What was the gain or loss on the disposal? A. $1,000 loss. B. $4,000 loss. C. $5,500 gain. D. $10,000 gain.