On November 8, 2011, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and was sold to Wood for $89,000. From the perspective of the combination, when is the gain on the sale of the land realized?
A. When Wood Co. begins using the land productively.
B. When Wood Co. Sells the land to a third party.
C. As Wood uses the land.
D. No gain can be recognized.
E. Proportionately over a designated period of years.