Milani, Incorporated, acquired 10 percent of Seida Corporation on January 1, 2023, for $180,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2024, Milani purchased an additional 30 percent of Seida for $618,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $2,060,000 in total. Seidas January 1, 2024, book value equaled $1,910,000, although land was undervalued by $137,000. Any additional excess fair value over Seida's book value was attributable to a trademark with an eight-year remaining life. During 2024, Seida reported income of $259,000 and declared and paid dividends of $105,000