In Year $2,$ Lansing Company purchased equipment for $$357,000$ and also sold some special purpose machinery with a book value of $$152,600$ for $$177,000.$ In its statement of cash flows for Year $2,$ the company should report the following with respect to the above transactions:

Multiple Choice

$$180,000$ net cash used by investing activities.

$$357,000$ net cash used by investing acintities.

$$180,000$ net cash used by investing activities; $$24,400$ net cash provided by operating activities.

$$357,000$ cash used by investing activities; $$177,000$ cash provided by financing activities.