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16) Parrett Corp. acquired one hundred percent of Jones Inc. on January 1, 2016, at a price in excess of the subsidiary's fair value. On that date, Parret's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000. J Parrett used the partial equi equipment with a book value of $250,000 and a fair value of $400,000. Jones had equipment with a book value of si70,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account as of December 31, 2018? 16) ones had equipment (ten-year life) with a book value of $240,000 and a fair value of $350,000. ty method to record its investment in Jones. On December 31, 2018, Parrett had A) S497,000. B) $387,000. C)$570,000. D)537,000. E) S508.000