At the end of last year (beginning of this year) ABC Company reported net fixed assets of $44,721 and at the end of the year it reported net fixed assets of $48,739. During the year the company sold fixed assets with a book value of $530 for $888. ABC also charged $7,789 in depreciation expenses against its earnings. How much did ABC spend to acquire new fixed assets during the year? Assume that all new fixed assets were acquired for cash. Note that even though your answer will represent a cash outflow for purchasing new fixed assets, you should present your result as a positive value