Palmer Corp. owned 80% of the outstanding common stock of Creed Inc. On January 1, 2019, Palmer acquired a building with a ten-year life for $450,000. No salvage value was anticipated and the building was to be depreciated on the straight-line basis. On January 1, 2021, Palmer sold this building to Creed for $412,000. At that time, the building had a remaining life of eight years but still no expected salvage value. For consolidation purposes, what is the Excess Depreciation (ED entry) for this building for 2021? 
Definitions:
Amortization
The process of spreading the cost of an intangible asset over its useful life.
Accrued Interest
Accrued Interest is the interest that has accumulated on a loan or bond since the last interest payment was made but has not yet been paid out.
Straight-Line Method
An accounting method of depreciation where a fixed amount is charged annually over the useful life of the asset.
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