Tower Inc. owns 30% of Yale Co. and applies the equity m ethod. During the current year, Tower bought inventory costing $168,000 and then sold it to Yale for $240,000. At year-end, only $120,000 of merchandise was still being held by Yale. What amount of intra-entity gross profit must be deferred by Tower? Multiple Choice $6,610. $3,240 $10,800. $6,480. $16,200