At the beginning of 2015, a parent company sold a patent, carried on its books at $2,000,000, to its subsidiary for $1,200,000. The patent had a remaining life of five 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 (1): Oincrease the patent by $640,000. Oreduce the parent's investment account by $480,000. Oincrease the subsidiary's beginning retained earnings by $160,000. Oreduce amortization expense by $320,000