32. Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2013. Miller paid $664,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $166,000 both before and after Miller's acquisition. On January 1, 2013, Taylor reported a book value of$600,000 (Common Stock $300,000; Additional Paid-In Capital $90,000; Retained Earnings $210,000). Several of Taylor's buildings that had a remaining life of20 years were undervalued by a total of $80,000. During the next three years, Taylor reports income and declares dividends as follows: Year Net Income Dividends 70,000 $10,000 2013 90,000 2014 15,000 20,000 2015 100,000