Miller Company acquired an $80$ percent interest in Taylor Company on January $1,2022.$ Miller paid $$848,000$ in cash to the owners of Taylor to acquire these shares. In addition, the remaining $20$ percent of Taylor shares continued to trade at a total value of $$212,000$ both before and after Miller's acquisition.

On January $1,2022,$ Taylor reported a book value of $$492,000($Common Stock $=$$$246,000$; Additional Paid$-$In Capital $=$$$73,800$; Retained Earnings $=$$$172,200).$ Several of Taylor's buildings that had a remaining life of $20$ years were undervalued by a total of $$65,600.$

During the next three years, Taylor reports income and declares dividends as follows:

$\backslash$table$[[$Year$,$Net Income,Dividends$],[2022,$$$57,700,$$$8,400$