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?

a. 60,000

b. 80,000

c. 90,000

d. 140,000