On January $1,2013,$ an investor purchases $16,000$ common shares of an investee at $$12($cash$)$ per share. The shares represent $20\%$ ownership in the investee. The investee shares are not considered "marketable" because they do not trade on an active exchange. On January $1,2013,$ the book value of the investee's assets and liabilities equals $$900,000$ and $$200,000,$ respectively $.$ On that date, the appraised fair values of the investee's identifiable net assets approximated the recorded book values, except for a customer list. On January $1,2013,$ the customer list had a recorded book value of $$0,$ an estimated fair value equal to $$50,000$ and a $5$ year remaining useful life. During the year ended December $31,2013,$ the investee company reported net income equal to $$42,000$ and dividends equal to $ $20,000.$