Consolidation subsequent to date of acquisition - Equity method with noncontrolling interest and AAP Assume that, on January 1, 2013, a parent company acquired a 90% interest in its subsidiary. The total fair value of the controlling and noncontrolling interests was $480,000 over the book value of the subsidiary's Stockholders' Equity on the acquisition date. The parent assigned the excess fair value to the following [A] assets: [A] Asset Initial Fair Value Useful Life (years) Initial Fair Value $160,000 Useful [A] Asset Life (years) Property, plant and equipment (PPE), net Patent Customer list Goodwill 20 80,000 10 I 40,000 10 200,000 Indefinite $480,000