On January 1, 2020, John Doe Enterprises (JDE) bought a 75% interest in Bubba Manufacturing, Inc. (BMI). JDE paid for the transaction with $517,961 cash and 189,919 shares of JDE common stock (par value $1.00 per share). At the time of the acquisition, BMI's book value was$5,859,865. On January 1, JDE stock had a market value of $25.85 per share and there was no control premium in this transaction. Any unidentifiable consideration transferred over book value is assigned to goodwill. BMI had the following balances on January 1, 2020. Book Value Fair Value Land 517,961 1,122,249 Buildings (seven-year remaining life) 690,615 1,329,433 Equipment (five-year remaining life) 1,208,57 1,139,514 For internal reporting purposes, JDE