A proprietor purchases an income-producing asset that has a class life of five years. It is the only asset the company owns. The proprietor sells the asset after four years. If the asset's market value has declined by more than the CCA taken, What will be the result for the year?
1) The company will have a loss for the year
2) The company will have a gain for the year
3) The company will break even for the year
4) The company's financial statement will not be affected for the year