On 1 January 2015, a motor vehicle was bought for $\$12000$. Its estimated residual value was $\$7000$, and its expected life was 5 years. Depreciation was worked out month by month using the straight-line method. The vehicle was disposed of on 30 June 2017, resulting in a loss on disposal of $\$2560$. What amount was received as the sale proceeds?
- A$\$3440$
- B$\$4352$
- C$\$6440$
- D$\$6940$