On January 1, 2013. Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $600,000 cash. At January 1, 2013, Sedona's net assets had a total carrying amount of $420,000. Equipment (eight-year remaining life) was undervalued on Sedona's financial records by $80,000. Any remaining excess fair over book value was attributed to a customer list developed by Sedona (four-year remaining life), but not recorded on its books. Phoenix applies the equity method to account for its investment in Sedona. Each year since the acquisition. Sedona has declared a $20,000 dividend. Sedona recorded net income of $70,000 In 2013 and $80,000 in 2014. Selected account balances from the two companies' individual records were as follows: On its December 31, 2015, consolidated balance sheet, what amount should phoenix report for sedona's customer list? $20,000. $50,000. $10,000. $25,000