Favre Company reports depreciation expense of $53,000 for Year 2. Also, equipment costing $179,000 was sold for a $11,300 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 Year 2 At December 31 Year 1 $675,000 $854 ,000 Equipment Accumulated Depreciation-Equipment 480,000 565,000 Multiple Choice $52,300. $73,700 $53,000. $29,700