Question: Problem 2-7 Calculating Net Capital Spending [LO4] Wallace Driving School's 2020 balance sheet showed net fixed assets of $5.1 million, and the 2021 balance sheet

Problem 2-7 Calculating Net Capital Spending [LO4] Wallace Driving School's 2020 balance sheet showed net fixed assets of $5.1 million, and the 2021 balance sheet showed net fixed assets of $5.7 million. The company's 2021 income statement showed a depreciation expense of $245,000. What was net capital spending for 2021? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Net capital spending

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