On January 1, 2019, Post Corporation acquired 80 percent of Star Company's common stock for $160,000 cash, when the book value of Star Company was $160,000.

At the date of the business combination, the book values of Star's net assets and liabilities approximated fair value except for inventory, which had a book value of $40,000 and fair value of $45,000, and equipment, which had a book value of $100,000 and a fair value of $120,000.

Additional information:

* Star Company uses the FIFO method and all inventory acquired on January 1, 2019 were sold during 2019.

* Equipment has a remaining useful life of 10 years, and the straight-line method is used.

* Star reported net income of $60,000 and $75,000 for 2019 and 2020 respectively.

* Star Company declared and paid dividends of $30,000 in 2019 and $40,000 in 2020.

What is the balance of Noncontrolling interest in Net Assets on December 31, 2020?

Select one:

a. $40,000

b. $51,200

c. $53,000

d. $52,200