Justings Co. owned 80% of Evana Corp. During 2013, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000. In its accounting records, Justings should not recognize a gain on the sale of the land since it was made to a related party. recognize a gain of $17,600. recognize a gain of $8,000. recognize a gain of $22,000. defer recognition of the gain until Evana sells the land to a third party.