During the year, Swasey Company sold equipment with a book value of $560,000 for $760,000 (original purchase cost of $960,000). New equipment was purchased.

Swasey provided the following comparative balance sheets:

Swasey Company

Comparative Balance Sheets

At December 31, 20X1 and 20X2

20X1 20X2

Long-Term Assets:

Plant and equipment..............$ 4,400,000.............$ 4,300,000

Accumulated depreciation........(2,400,000) ............(2,540,000)

Land..................................(2,000,000) ............(2,875,000)

Required:

Calculate the investing cash flows for the current year.