Question: Lobster Inc. sells half of its 8 0 % interest in Tuna Co . on January 1 , 2 0 0 6 . On that

Lobster Inc. sells half of its 80% interest in Tuna Co. on January 1,2006. On that date, the fair
value of Tuna as a whole is $1,000,000 and the carrying amount of Lobster's 80% share of Tuna is
$300,000. What, if any, is the gain on the sale of half of Lobster's interest in Tuna?

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