### How much cash did peterson receive

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##### Reference no: EM13138491

Peterson Company purchased machinery for \$480,000 on January 1. 2009. Straight-line depreciation gas been recorded based on a \$30,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2013 at a gain of \$9,000. How much cash did Peterson receive from the sale of the machinery?

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