Consolidation subsequent to acquisitionEquity method, noncontrolling interest, and AAP Assume a parent company acquires an 80% interest in its subsidiary for a purchase price that was $280,000 over the book value of the subsidiarys Stockholders Equity on January 1, 2019. On the acquisition date, the parent assigned the excess fair value to the following [A] assets: AAP Item Initial Fair Value Useful Life Property, plant, and equipment (PPE) . . . . . . . . . . . . . . . . . . . $160,000 20 years Patent