On January 1, 2020. s Company, an 80% owned subsidiary of C, Inc., transferred equipment with a 10-year life (six of which remain with no salvage value) to Cinc. in exchange for $84,000 cash. At the date of transfer, s Company's records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used s Company reported net income of $28,000 and $32,000 for 2020 and 2021, respectively. All net income effects of the intra- entity transfer are attributed to the seller for consolidation purposes. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what amount of this gain should be recognized for consolidation purposes for 2020? Multiple Choice 58.400 $9,600, $8.400. $9600. $12,000. $2,000. $1200