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How much cash did concord receive from the sale of machinery

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Question - Concord Corporation purchased machinery for $1130000 on January 1, 2017. Straight-line depreciation has been recorded based on a $89000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $20500. How much cash did Concord receive from the sale of the machinery?

a. $224300.

b. $159300.

c. $337300.

d. $248300.

Reference no: EM132601581

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