West Co has a 75% subsidiary, Land Co, and is preparing its consolidated statement of financial position as at 31 December 20X6. The carrying amount of property, plant and equipment in the two companies at that date is as follows: West Co $300,000 Land Co $60,000 On 1 January 20X6 Land Co had transferred some property to West Co for $40,000. At the date of transfer the property, which had cost $42,000, had a carrying amount of $30,000 and a remaining useful life of five years. The group accounting policy is to depreciate property on a straight-line basis down to a nil residual value. It is also group policy not to revalue non-current assets. What is the carrying amount of property, plant and equipment in the consolidated statement of financial position of West Co as at 31 December 20X6? a. $352,000 b. $350,000 c. $360,000 d. $332,000 7:50 PM