Question: Palin & Daughters had $ 2 6 , 5 0 0 in net fixed assets at the beginning of the year. During the year, the

Palin & Daughters had $26,500 in net fixed assets at the beginning of the year. During the year, the company purchased $5,700 in new equipment. It also sold, at a price of $1,000, some old equipment with a book value of $850. The depreciation expense for the year was $4,300. What is the net fixed asset balance at the end of the year?

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