McGuire Company acquired $90$ percent of Hogan Company on January $1,2022,$ for $$234,000$ cash. This amount is reflective of Hogan's total acquisitiondate fair value. Hogan's stockholders' equity consisted of common stock of $$160,000$ and retained earnings of $$80,000.$ An analysis of Hogan's net assets revealed the following:

$\backslash$table$[[,$Book Value,Fair Value$],[$Buildings $(10-$year life$),$$$10,000,$$$8,000$