Problem 5-8 (LO 5-7) Dunn Corporation owns 100 percent of Grey Corporation's common stock. On January 2, 2017, Dunn sold to Grey $52,800 of machinery with a carrying amount of $40,000 Grey is the acquired machinery over a five year remaining life by the straight-ine method. The net ac to compute 2017 and 2018 c income would be an increase ( of 2017 $ (18,240) 2e18 52,568 $ (12,800) $ (12,880) C2024 2018 $2, 560 2017 s(18,248)