Question: On 5 / 1 / X 8 , Pastor, Inc. had a $ 3 0 , 0 0 0 gainon equipment sold to Sermon, Inc.

On 5/1/X8, Pastor, Inc. had a $30,000 gainon equipment sold to Sermon, Inc. (100%owned) for $150,000. Sermon extended thethen remaining life of 2 yr.(original life was10 yrs.) to 4 yrs. What is the consolidatedaccumulated depreciation at 12/31/X8?a. $500,000.b. $505,000.c. $510,000.d. $520,000.e. $540,000.

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