[单选题]
A taxpayer is trading in an automobile used solely for business purposes for another automobile to be used in his business. The automobile originally cost USD35,000 and he has taken USD18,000 in depreciation. The old automobile is currently worth USD20,000 and the new automobile the taxpayer wants in exchange is only worth USD17,500. The taxpayer agrees to assume a liability secured by the new auto of USD1,000. The other party also agrees to assume a liability secured by the taxpayer's old auto of USD3,500. What is the gain or loss realized by the taxpayer on this transaction?
A .USD3,000 gain
B .USD500 gain
C .USD2,500 gain
D .USD2,000 loss
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