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Lovell Company reported the following information related to its long-term assets:
| |
| Property, plant, and equipment, beginning balance | | $240,000 |
| Property, plant, and equipment, ending balance | | 270,000 |
| Accumulated depreciation, beginning balance | | 69,500 |
| Accumulated depreciation, ending balance | | 79,000 |
| Depreciation expense | | 9,500 |
In addition, the company disclosed that it sold equipment with a historical cost of $26,000 for $22,000.
Using this information, compute cash paid for property, plant, and equipment.
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