Metalcrafts Inc During 2014,the Company Sold Equipment with a Cost of $50,000

Metalcrafts Inc. Selected information from the company's financial records is presented below:
$\begin{array}{ll} \text { Equipment, December 31, 2013 } &\$ 300,000 \\ \text { Equipment, December 31, 2014 } &400,000 \\ \text { Accumulated depreciation, December 31, 2013 } &80,000 \\ \text { Accumulated depreciation, December 31, 2014 } &60,000\end{array}$ During 2014,the company sold equipment with a cost of $50,000 and accumulated depreciation of $30,000.A gain of $10,000 was recognized on the sale of the equipment.This was the only equipment sale during the year.
-Refer to Metalcrafts,Inc.What amount would be reported as the cash proceeds from the sale of equipment?

A) $50,000
B) $20,000
C) $10,000
D) $30,000