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Lovell Company reported the following information related to its long-term assets: Property, plant, and equipment, beginning balance $240,000 Property, plant, and equipment, ending balance 270,000

Lovell Company reported the following information related to its long-term assets:

Property, plant, and equipment, beginning balance $240,000
Property, plant, and equipment, ending balance 270,000
Accumulated depreciation, beginning balance 69,500
Accumulated depreciation, ending balance 79,000
Depreciation expense 9,500

In addition, the company disclosed that it sold equipment with a historical cost of $26,000 for $22,000.

Using this information, compute cash paid for property, plant, and equipment.

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