e. (none of the ab 15. P Company acquired all of the voting stock of S Company on 1/2/18 and used the equity method to record this investment. On the acquisition date, P's equipment had a book value of $340,000 and a fair value of $420,000 (8-year remaining life), while S's equipment had a book value of $215,000 and a fair value of $245,000 (5-year remaining life). On 12/31/20, P's equipment account had a book value of $320,000 and a fair value of $390,000, while S's equipment account had a book value of $180,000 and a fair value of $230,000. At what amount should Equipment (net) be reported in the consolidated balance sheet of 12/31/20? e. (none of these) d. $518,000 c. $512,000 b. $488,000 a. $482,000