On January 1, 2009, Redding Company acquired 80% of Frazer Corporation's common stock for $344,000 in cash. At the acquisition date, the book values and fair value of assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 20% of the total book value of Frazer. The stockholders' equity accounts of the two companies at the acquisition date ar Redding Frazer common stock(5@par 500,000 200,000 additional paid in capital 300,000 80,000 retained earning 350,000 150,000 Noncontrolling interest was assigned income of $11,000 in Redding's consolidated income statement for 2009 Based on the preceding information, what amount will be assigned to the noncontrolling interest on January 1, 2009, in the consolidated balance sheet? Select one: a. 86,000 b. 68,800 O C. 44,000 d. 50,000 O