At the beginning of 2015, a parent company sold a patent, carried on its books at $7,000,000, to its subsidiary for $5,600,000. The patent had a remaining life of ten years and straight-line amortization is used. It is now the end of 2017, and the subsidiary still owns the patent. On the 2017 consolidation working paper, eliminations (I):

A. increase the patent by $560,000.

B. reduce the parent's investment account by $1,120,000.

C. increase the subsidiary's beginning retained earnings by $140,000.

D. reduce amortization expense by $280,000.