51) Angie's Cookie Shop reported equipment at $240,000 and $48,000 accumulated depreciation on its December 31, 2016, balance sheet. During 2017, the shop purchased equipment costing $40,000 and sold equipment costing $10,000 (book value $7,200) for $2,000. On December 31, 2017, net equipment was $174,800. Using the indirect method, Angies would report depreciation expense on its statement of cash flows for 2017 of Select one: a. $95,200. b. $47,200. c. $54,400. d. $50,000.