Education Corporation purchased all of Agency Co$.\text{'}$s common stock on January $1,2$XX$2,$ for $$3,000,000$ cash. Agency's stockholders' equity amounted to $$2,100,000.$ The excess of $$900,000$ was due to an unrecorded patent with a $15-$year life. In $2$XX$2,$ Agency reported net income of $$750,000$ and paid dividends of $$75,000.$