On January 1, 2015, Pomegranate Company acquired 90% of the voting stock of Starfruit Company for $60,400,000 in cash. The fair value of the noncontrolling interest in Starfruit at the date of acquisition was $4,400,000. Starfruit's book value was $12,200,000 at the date of acquisition. Starfruit's assets and liabilities were reported on its books at values approximating fair value, except its plant and equipment (10-year life, straight-line) was overvalued by $24,000,000. Starfruit Company had previously unreported intangible assets, with a market value of $35,000,000 and 5-year life, straight-line, which were capitalized following GAAP.

At the date of acquisition, consolidation eliminating entry (R) credits the noncontrolling interest in Starfruit Company in the amount of

$1,100,000

$3,180,000

$4,400,000

$5,260,000