1. Thunder Corporation had a beginning balance in net PPE of 220,000. During the year, Thunder purchased 60,000 of new PPE. Depreciation expense for the year was 30,000 and there was a net gain on the sale of PPE was 3,000. The ending balance in net PPE was 170,000 and there were no impairments. The cash received from the sale of the PPE was:

1. 80,000.
2. 88,000.
3. 83,000.
4. None of the above.