A company sold equipment that originally cost $350,000 for $210,000 cash. The accumulated depreciation on the equipment was $140,000 The company should recognize a 2 Peavey Enterprises purchased a depreciable asset for $22.500 on April 1, Year 1 The asset willbe depreciated using the straight-ine method over it four-year useful life. Assuming the asset's salvage value is $2.100, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of