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An acquired subsidiary had an unrecorded in-process R&D with fair value of $75,000 at theacquisition date, 1/1/18.During 2018, the subsidiary spent another $26,000 on this

An acquired subsidiary had an unrecorded in-process R&D with fair value of $75,000 at theacquisition date, 1/1/18.During 2018, the subsidiary spent another $26,000 on this R&Dproject.An impairment test showed no R&D impairment loss.During this year, the parentcompany also spent $52,000 to start a new R&D project of its own.The parent's balancesheet showed no R&D asset on 1/1/18.In the consolidated balance sheet of 12/31/18, atwhat amount should the asset account "In-process R&D" be reported?

$101,000

$153,000

(None of these.)

$75,000

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