A U$.$S$.$ parent acquired all of the stock of an Italian subsidiary on January $1,2023,$ for $2,100,000.$ The excess paid over book value was attributed to goodwill, which was impaired by $70,000$ during $2023.$ The subsidiary$$s January $1$ and December $31,2023,$ trial balances are as follows, in euros:

December $31,2023$ Dr $($Cr$)$ January $1,2023$ Dr $($Cr$)$

Cash, receivables $252,000280,000$

Inventories, at FIFO cost $700,000560,000$

Plant & equipment, net $1,820,0002,240,000$

Liabilities $(1,512,000)(1,960,000)$

Capital stock $(280,000)(280,000)$

Retained earnings, beginning $(840,000)(840,000)$

Dividends $140,000$

Sales revenue $(5,600,000)$

Cost of goods sold $3,220,000$

Depreciation expense $420,000$

Out$-$of$-$pocket expenses $1,680,000$

$00$

Sales, purchases, and recurring out$-$of$-$pocket expenses occurred evenly throughout the year. The subsidiary$$s beginning inventory for $2023$ was purchased at the end of $2022.$ The subsidiary did not purchase any plant & equipment during $2023.$ Exchange rates $($$$/)$ are:

January $1,2023$ $$1\mathrm{.}19$

Average for $20231\mathrm{.}24$

Rate when dividends declared $1\mathrm{.}26$

Rate when ending inventory purchased $1\mathrm{.}28$

December $31,20231\mathrm{.}29$

When consolidating the subsidiary$$s trial balance accounts with those of the parent, if the subsidiary$$s functional currency is the euro, eliminating entry $($R$)$ debits goodwill in the amount of

Select one:

a$.$ $$1,173,900$

b$.$ $$1,264,200$

c$.$ $$1,128,400$

d$.$ $$1,166,200$