Peterson Company purchased machinery for $800,000 on January 1, 2011. Straight-line depreciation has been recorded based on a $50,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2015 at a gain of $15,000. How much cash did Peterson receive from the sale of the machinery? S135,000 S115,000 $215,000 O $165,000