On January $1,2023,$ Bertrand, Incorporated, paid $$79,100$ for a $40$ percent interest in Chestnut Corporation's common stock. This

investee had assets with a book value of $$253,000$ and liabilities of $$117,000.$ A patent held by Chestnut having a $$5,900$ book value

was actually worth $$38,900.$ This patent had a six$-$year remaining life. Any further excess cost associated with this acquisition was

attributed to an indefinite$-$lived asset. During $2023,$ Chestnut earned income of $$41,750$ and declared and paid dividends of $$14,000.$ In

$2024,$ it had income of $$64,000$ and dividends of $$19,000.$ During $2024,$ the fair value of Bertrand's investment in Chestnut had risen

from $$91,900$ to $$99,000.$

Required:

a$.$ Assuming Bertrand uses the equity method, what balance should appear in the Investment in Chestnut account as of December $31,$

$2024?$

b$.$ Assuming Bertrand uses fair$-$value accounting, what income from the investment in Chestnut should be reported for $2024?$

a$.$ Investment in Chestnut account as per the equity method

b$.$ Income from the investment in Chestnut as per fair$-$value accounting