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QUESTION 18 Parent owned 80% of Sub. In Year 1, Parent sold a trademark with a book value of $400,000 to Sub. The selling price

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QUESTION 18 Parent owned 80% of Sub. In Year 1, Parent sold a trademark with a book value of $400,000 to Sub. The selling price was 5700,000. The trademark has an indefinite useful life. At what amount should the trademark be reported in the Year 1 ending consolidated balance sheet? a. $560,000 5320,000 c. $700,000 5400,000 d

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