P Corporation acquired an 70% interest in S Corporation two years ago at an implied value equal to the book value of S. On January 2, 2014, S sold equipment with a five-year remaining life to P for a gain of $180,000. S reports net income of $900,000 for 2014 and pays dividends of $300,000. P's Equity from Subsidiary Income for 2014 is:

A. $720,000. B. $529,200. C. $604,800. D. $504,000.