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At what amount it reported on consolidated statements

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Question - On January 1, 2014, Brendan, Inc., reports net assets of $912,700 although equipment (with a four-year life) having a book value of $514,000 is worth $576,500 and an unrecorded patent is valued at $46,200 Hope Corporation pays $817,120 on that date for an 80 percent ownership in Brendan. If the patent is to be written off over a 10-year period, at what amount should it be reported on consolidated statements at December 31, 2015?

$36,960.

$29,568.

$41,580.

$33,264.

Reference no: EM131698873

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