Tower inc. owns 30% of yale co. and applies the equity method. during the current year, tower bought inventory costing $66,000 and then sold it to yale for $120,000. at year-end, only $24,000 of merchandise was still being held by yale. what amount of intra-entity gross profit must be deferred by tower?

Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.