Alton Incorporated owns $80\%$ of the voting stock of Edinburg Company. The purchase price exceeded the underlying book value

of Edinburg Company's assets and liabilities by $$30,000.$ At the same time, Edinburg holds a $30\%$ interest in the outstanding

common stock of Alton. The Alton stock was purchased at a price which exceeds the underlying book value by $$20,000.$ Each

company uses the cost method to account for its investment in the other. During the current year, the following information was

obtained:

All dividend income recognized by the two companies is due to investment in the other company. If the treasury stock method is

used, what amount would be recorded in the consolidated financial statements as the noncontrolling interest in Edinburg's

income?

Multiple Choice

$$12,000$

$$12,800$

$$21,200$

$$24,000$

$$36,000$