A business bought a vehicle that had originally cost $27\,000 and was expected to have a residual value of $1000. Depreciation of $18,200 has been charged on this vehicle. The vehicle was traded in as part exchange for a new vehicle costing $29,500. A cheque for $19,000 was paid to complete the transaction. What profit or loss was made on the sale of the vehicle?
- Aloss $1700
- Bloss $2700
- Cprofit $1700
- Dprofit $2700