Jamison Company reports depreciation expense of $55,000 for Year 2. Also, equipment costing $185,000 was sold for a $6,500 gain in Year 2. The following selected information is available for Jamison Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31	Year 2			Year 1
Equipment	$	685,000		$	870,000
Accumulated Depreciation-Equipment		488,000			575,000

Multiple Choice

$43,000.

$49,500.

$98,000.

$55,000.

$36,500.