ABC ltd. acquired XYZ ltd. on January 1, 2010. The parent paid more than the fair value of the subsidiary's net assets. On that date ABC ltd. had equipment with a book value of $500,000 and a fair value of $640,000. XYZ ltd. had equipment with a book value of $400,000 and a fair value of $470,000. XYZ decided to use push-down accounting. Immediately after the acquisition, what Equipment amount would appear on XYZ separate balance sheet and on ABC's ltd. consolidated balance sheet, respectively?

A. $470,000 and $900,000
B. $400,000 and $960,000
C. $400,000 and $900,000
D. $470,000 and $970,000
E. $470,000 and $1,030,000