On January 1,20X1,Poe Corp.sold a machine for $900,000 to Saxe Corp.,its wholly-owned subsidiary.Poe paid $1,100,000 for this machine,which had accumulated depreciation of $250,000.Poe estimated a $100,000 salvage value and depreciated the machine on the straight-line method over 20 years,a policy which Saxe continued.In Poe's December 31,20X1,consolidated balance sheet,this machine should be included in cost and accumulated depreciation as:

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The Answer of On January 1,20X1,Poe Corp.sold a machine for $900,000 to Saxe Corp.,its wholly-owned subsidiary.Poe paid $1,100,000 for this machine,which had accumulated depreciation of $250,000.Poe estimated a $100,000 salvage value and depreciated the machine on the straight-line method over 20 years,a policy which Saxe continued.In Poe's December 31,20X1,consolidated balance sheet,this machine should be included in cost and accumulated depreciation as: