Sea Liner Corp. is an 80 percent owned subsidiary by Pan-Asian Liner, Inc. On January 1, 2001, Sea Liner paid P100,000 for a truck with an expected economic life of 10 years and no anticipated residual value. Sea Liner sold the truck to Pan-Asian Liner Inc., on January 1, 2007. During preparation of the consolidation workpaper for 2007, the following workpaper entry was made to eliminate the effects of the intercompany truck sale: Truck 48,000 Gain on Sale of Truck 12,000 Depreciation Expense 3,000 Accumulated Depreciation 57,000 What amount did Pan-Asian Liner, Inc. pay Sea Liner for the truck? a. P43,000 b. P60,000 c. P28,000 d. P52,000