Assume that on January 1, 2012, a parent company acquired a 80% interest in a subsidiary's voting common stock. On the date of acquisition, the fair value of the subsidiary's net assets equaled their reported book values. On January 1, 2014, the subsidiary purchased a building for $336,000. The building has a useful life of 8 years and is depreciated on a straight-line basis with no salvage value. On January 1, 2016, the subsidiary sold the building to the parent for $294,000. The parent estimated that the building had a six year remaining useful life and no salvage value. The parent also uses the straight-line method of amortization. For the year ending December 31, 2016, the parent s ''stand-alone" income (i.e., net income before recording any Consolidated depreciation expense: $25, 200 $29, 400 $42,000 $49,000