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Coronado Industries purchased machinery for $1260000 on January 1, 2022. Straight-line depreciation has been recorded based on a $75000 salvage value and a 5-year useful

image text in transcribed Coronado Industries purchased machinery for $1260000 on January 1, 2022. Straight-line depreciation has been recorded based on a $75000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2026 at a gain of $28500. How much cash did Coronado receive from the sale of the machinery? $210500.$261500.$336500.$186500

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