Hardford Corp. held 80% of Inglestone Inc., which, in turn, owned 80% of Jade Co. Excess amortization expense was not required by any of these acquisitions. Separate net income figures (without investment income) as well as upstream intra-entity gross profits (before deferral) included in the income for the current year follow:

Hardford Corp.	Inglestone Inc.	Jade Co.
Separate net income	$560,000	$420,000
Intra-entity gross profits	70,000	42,000

The net income attributable to the noncontrolling interest of Inglestone Inc. is calculated to be

Multiple Choice

$114,530.

$106,960.

$103,680.

$102,640.

$106,950.