Baldwin Corporation purchased 25 percent of Gwin Company's common stock on January 1, 20X8, at underlying book value. In 20X8, Gwin reported a net loss of $20,000 and paid dividends of $10,000, and in 20X9, Gwin reported net income of $68,000 and paid dividends of $16,000. During year 20X9, Gwin reported a $12,000 gain on futures contracts which were designated as cash flow hedges, hence this gain was reported in Other Comprehensive Income (OCI) for the year ended December 31, 20X9. Baldwin reported a balance of $67,000 in its investment in Gwin at December 31, 20X9. Required: Compute the amount paid by Baldwin Corporation to purchase the shares of Gwin Company. Purchase price