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 Corp.	Jade Inc.
Separate net income	$560,000	$420,000	$280,000
Intra-entity gross profits	70,000	42,000	84,000

The net income attributable to the noncontrolling interest of Jade Co. is calculated to be