On January $1,2023,$ Bertrand, Incorporated, paid $$76,800$ for a $40$ percent interest in Chestnut Corporation$$s common stock. This investee had assets with a book value of $$224,000$ and liabilities of $$104,000.$ A patent held by Chestnut having a $$8,100$ book value was actually worth $$53,100.$ 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 $$38,000$ and declared and paid dividends of $$13,000.$ In $2024,$ it had income of $$61,700$ and dividends of $$18,000.$ During $2024,$ the fair value of Bertrand$$s investment in Chestnut had risen from $$86,200$ to $$92,280.$

Required:

Assuming Bertrand uses the equity method, what balance should appear in the Investment in Chestnut account as of December $31,2024?$

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