B. Atman Co. owns 90% of R. Iddler Co. During the current year R. Iddler sells to B. Atman land with a book value of $80,000 and a fair value of $100,000. The selling price is $110,000. In its accounting records, R. Iddler will

Multiple Choice

Record a $20,000 gain on the sale of land.

Record a $18,000 gain on the sale of land.

Record a $30,000 gain on the sale of land.

Defer the recognition of the gain until the land is sold to an unrelated party.