Ryan bought a van for $\$16\,000$ on 31 December 2021. He uses a depreciation policy of $25\%$ per annum on the reducing balance basis, with depreciation charged for each part of the year that the asset is owned. On 1 July 2024, Ryan exchanged the van and received a $\$6\,150$ allowance towards the price of a new van. Calculate the profit or loss on disposal of the van.
- A$\$600$ loss
- B$\$1\,725$ loss
- C$\$150$ profit
- D$\$2\,150$ profit