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The balance in PP&E on Company A’s Year 1 Balance Sheet is $20,000. The company purchase PP&E of $37,000 during Year 2. Depreciation expense recorded during Year 2 totaled 5,000. The company sold some equipment with a net book value of $2,000. What is the balance in PP&E on the Year 2 Balance Sheet? Assuming no other transactions affected the account during the year.
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