Cannoli Corp. is the parent of its subsidiary, Carac Corp., and the corporations have filed consolidated tax returns since Year 3. In Year 4 Carac sells to Cannoli land worth $90,000 (basis $50,000) at a selling price of $90,000. In Year 6 Cannoli sells the land to an unrelated third party for $120,000, its fair market value at that time. What amount of gain is recognized on Cannoli and Carac’s Year 4 and Year 6 consolidated tax returns, respectively? Year 4 Year 6 a) $0 $30,000 b) $40,000 $30,000 c) $90,000 $30,000 d) $0 $70,000