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the cost of the new PPE purchased

The following information is taken from the financial statements of an entity:

20x4 20x3

Property, plant and equipment $4,600,000 $4,200,000

Accumulated depreciation (1,800,000) (1,350,000)

Depreciation expense 560,000

Gain on disposal of PPE 65,000

The asset disposed of had a cost of $250,000.

Calculate (i) the cost of the new PPE purchased during the year and (ii) the proceeds on disposal on sale of PPE.

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