Favre Company reports depreciation expense of $47,000 for Year 2 Also, equipment costing $161,000 was sold for a $10.700 loss in Year 2 The following selected information is available for Favre Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. At December 31 Equipment Accumulated Depreciation-Equipment Year 2 Year 1 $645,000 $806,000 456,000 535,000