Equipment that cost $300,000 and had a book value of $156,000 was sold for

Equipment that cost $300,000 and had a book value of $156,000 was sold for $180,000. Data from the comparative balance sheets are:

12/31/08 12/31/07

Equipment                         $2,160,000  $1,950,000

Accumulated Depreciation 660,000       570,000

How do you calculate the Equipment purchased during 2008? And what are some common mistakes in answering this type of question?

A) $510,000.

B) $300,000.

C) $210,000.

D) $90,000.

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