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Required information Skip to question [ The following information applies to the questions displayed below. ] The following information was drawn from the year -

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[The following information applies to the questions displayed below.]
The following information was drawn from the year-end balance sheets of Mass Trading Company.
Account Title Year 2 Year 1
Investment securities $ 34,400 $ 28,000
Equipment 234,500214,000
Buildings 846,000943,000
Land 85,00064,000
Additional information regarding transactions occurring during Year 2:
1. Investment securities that had cost $4,790 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $570.
2. Equipment with a cost of $56,000 was purchased.
3. The income statement showed a gain on the sale of equipment of $4,200. On the date of sale, accumulated depreciation on the equipment sold amounted to $6,200.
4. A building that had originally cost $173,500 was demolished.
5. Land that had cost $25,500 was sold for $20,200.
c. Determine the cost of the equipment that was sold during Year 2.

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