On January 1, 2021, Garfield Company acquires 80% of the outstanding common stock of Property Inc., for a purchase price of $12,400,000. It was determined that the fair value of the noncontrolling interest in the subsidiary is $3,100,000. The book value of the Propertys stockholders equity on the date of acquisition is $10,000,000 and its fair value of identifiable net assets is $10,850,000. The acquisition-date acquisition accounting premium (AAP) is allocated $600,000 to equipment with a remaining useful life of 10 years, and $250,000 to a patent with a remaining useful life of 5 years.

What portion of AAP should be assigned to non-controlling interest?

Group of answer choices

$$4,650,000

$0

$1,100,000

$4,400,00