P Company purchased land from its 80% owned subsidiary at a cost of $100,000 greater than it subsidiary's book value. Two years later P sold the land to an outside entity for $20,000 more than it's cost. In its current year consolidated income statement P and its subsidiary should report a gain on the sale of land of 

A. $50,000. 

B. $130,000. 

C. $120,000. 

D. $150,000.