A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001.The profit or loss on sale was
-
A.
₦17,000 profit -
B.
₦17,000 loss -
C.
₦16,000 profit -
D.
₦16,000 loss