Assume that the parent company acquires its subsidiary in a $$nontaxable$$ transaction by exchanging $60,000$ shares of its $$2$ par value Common Stock, with a fair value on the acquisition date of $$10$ per share, for all of the outstanding voting shares of the investee. In its analysis of the investee company, the fair value of each of the subsidiary$$s assets and liabilities equals their respective book values except for property, plant and equipment $($PPE$)$ assets that are undervalued by $$40,000,$ an unrecorded Customer List with a fair value of $$64,000,$ and an unrecorded Brand Name asset valued at $$96,000.$ And, finally, assume that the tax bases of the subsidiary$$s pre$-$acquisition identifiable net assets equal their book values. The parent company$$s effective tax rate is $22\%.$