The details below relate to a trader’s non-current assets: accumulated depreciation on 31 May 2015 $\$40000$; depreciation charge for the year to 31 May 2016 $\$9000$; accumulated depreciation on 31 May 2016 $\$46000$. In the year to 31 May 2016, one non-current asset with a cost of $\$10000$ was disposed of. The disposal resulted in a loss of $\$1200$. What sale proceeds were received for the non-current asset that was sold?
- A$\$5800$
- B$\$7000$
- C$\$8200$
- D$\$8800$