8. Moondog Corporation acquired a 70% interest in Night Owl Company for $1,040,000 when Night Owl had no liabilities. The book values and fair values of Night Owls assets were: Book Value Fair Value Current assets $ 500,000 $ 800,000 Equipment 300,000 400,000 Land & buildings 600,000 800,000 Total assets $1,400,000 $2,000,000 Immediately following the acquisition, equipment will be included on the consolidated balance sheet at: X $160,000. X $240,000. X $280,000 X $300,000