Acker Incorporated bought 40% of Howell Company on January 1, 2023, for $576,000. The equity method of accounting was used. The book value and fair value of the net assets of Howell on that date were $1,440,000. Acker began supplying inventory to Howell as follows: Year Cost to Acker 2023 2024 $ 55,000 Transfer Price $ 75,000 $ 70,000 $ 110,000 Amount Held by Howell at Year- End $ 15,000 $ 55,000 Howell reported net income of $100,000 in 2023 and $120,000 in 2024 while paying $40,000 in dividends each year. What is the Equity in Howell Income that should be reported by Acker in 2023?