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Find amount of depreciation expense on consolidated income

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Question - On January 1, 2011, Payton Co. sold equipment to its subsidiary, Starker Corp., for $115,000. The equipment had cost $125,000, and the balance in accumulated depreciation was $45,000. The equipment had an estimated remaining useful life of eight years and $0 salvage value. Both companies use straight-line depreciation. On their separate 2011 income statements, Payton & Starker reported depreciation expense of $84,000 and $60,000 respectively. The amount of depreciation expense on the consolidated income statement for 2011 would have been

A. $144,000

B. $148,375

C. $109,000

D. $134,000

E. $139,625

Reference no: EM131779069

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