Myancor Corp. had the following balances in its Equipment and Accumulated Depreciation-Equipment accounts at the beginning and end of 2009.

March 9 Purchased new equipment for $120,000.
July 16 Sold equipment that originally cost $60,000 and had a current book value of $24,000 for $49,500.
Required:
(a) How much depreciation expense did Myancor Corp. record on its equipment during 2009?
(b) Indicate how Myancor€™s depreciation expense and its transactions involving equipment would appear in the company€™s 2009 statement of cash flows, assuming the company uses the indirect method of preparing a statement of cash flows.

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Jan. Dec. 31 $300,000 $360,000 Equipment Accumulated Depreciation Equipment 75,000 54,000