Andretti Driving Schools December 31, 2001, balance sheet showed net fixed assets of $3.1 million, and the

Question:

Andretti Driving School’s December 31, 2001, balance sheet showed net fixed assets of $3.1 million, and the December 31, 2002, balance sheet showed net fixed assets of $3.5 million. The company’s 2002 income statement showed a depreciation expense of $850,000. What was Andretti’s net capital spending for 2002?

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