Equipment started the year with $420,000 and ended the year with $480,000 Accumulated Depreciation on equipment started the year with $280.000 and ended the year with a balance of $320,000. Equipment, originally costing $80,000, was sold for a gain of $20.000, and depreciation expense was $60,000. How much equipment was purchased during the year Multiple Choice $60.000 $80.000 $90.000 $140.000