A trader bought a motor vehicle for $36000 on 1 July 2016. The motor vehicle had an estimated useful life of five years and an estimated residual value of $6000. Depreciation is charged each month using the straight-line method. The motor vehicle was sold on 31 March 2018 for $22500. What was the profit or loss on disposal of the motor vehicle?
- A$900 loss
- B$900 profit
- C$3000 loss
- D$3000 profit