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Apex Corporation owns 85% of Beta Corporation. During 2024, Beta sold equipment to Apex for $180,000. The equipment had a book value of $120,000 on Beta's books and an original cost of $200,000. Apex is depreciating the equipment over 6 years using the straight-line method with no salvage value. The equipment had a remaining useful life of 6 years when sold.
What is the net effect on consolidated net income for 2024 from this intercompany transaction?
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