McGuire Company acquired 90 percent of Hogan Company on January 1,2019 , for $234,000 cash. This amount is reflective of Hogan's total acquisition-date 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: Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 5 years. In consolidation at December 31, 2020, what net adjustment is necessary for Hogan's Patent account? Multiple Choice $4,200. $5,500. $8,000. $6,600. No adjustment is necessary