The accounting year-end for a company is $30$ June. A machine was acquired on $1$ October $2016$ for $16000$ and later sold on $31$ March $2019$ for $7000$. The company charges depreciation on machinery at $15\%$ per annum on cost, with depreciation worked out on a month-by-month basis. What was the profit or loss on disposal?
- A$1800 loss
- B$1800 profit
- C$3000 loss
- D$3000 profit