A company bought $400,000 of equipment with an expected life of 13 years and no residual value. After 9 years the company sold the equipment for $98,500. If the company uses straight-line depreciation and the indirect method is used to determine cash flows from operating activities, which of the following reflects how the sale of the equipment would be reported in the statement of cash flows? Multiple Choice o 598,500 is recorded as a cash inflow from investing activities and $24.577 is added to convert net income to net cash flow provided by operating activities. 0 0 $98,500 is recorded as a cash inflow from investing activities and no other sections of the statement are affected 0 $98,500 is recorded as a cash inflow from investing activities and $24.577 is subtracted to convert net income to net cash flow provided by operating activities. 0 $98,500 is recorded as a cash inflow from operating activities