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Palomino Corporation purchased land from its 60%-ownedsubsidiary, Salmon Inc., in 2016 at a cost $30,000 greater thanSalmon's book value. In 2019, Palomino sold the land

Palomino Corporation purchased land from its 60%-ownedsubsidiary, Salmon Inc., in 2016 at a cost $30,000 greater thanSalmon's book value. In 2019, Palomino sold the land to an outsideentity for $40 2 answers

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