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Suppose on January 1, 2015, Fall Motors paid $450 million for a 40% investment a Regal motors Assume Regal earned net income of $65 million

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Suppose on January 1, 2015, Fall Motors paid $450 million for a 40% investment a Regal motors Assume Regal earned net income of $65 million and paid cash dividends of $45 million during 2016. (Click the icon to view the Equity Method Investment T-account) Assume that on January 1, 2017, Fall Motors sold half its investment in Regal Motors the sale price was $230 million. Compute Fall Motors gain or loss on the sale. Let compute the gain or loss on the sale of the investment (Round amounts of the interest million. Use parentheses or a minus sign when showing a loss)

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