Favre Company reports depreciation expense of $52,000 for Year 2. Also, equipment costing $176,000 was sold for a $11,200 loss in Year 2. The following selected information is available for Favre Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. At December 31 Equipment Accumulated Depreciation-Equipment Year 2 Year 1 $670,000 $846,000 476,000 560,000 Multiple Choice $28,800. $51,200. $52,000. $40,000 $72,800