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I Razor Co. sold equipment with a six-year remaining useful life at a gain of $24,000 to Soprano Industries, its subsidiary. In the consolidated statements,

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I Razor Co. sold equipment with a six-year remaining useful life at a gain of $24,000 to Soprano Industries, its subsidiary. In the consolidated statements, the gain will Select one: A be recognized immediately B. be recognized over the six-year period. C. never be recognized D. be recognized when the asset is resold to outsiders

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