On January 1, 20X1, Peace, Inc., acquired 70 percent of Silver's outstanding voting stock. At that date, $74,000 of the acquisitiondate fair value was assigned to unrecorded contracts (with a 10-year life). In 20X1, Silver sold inventory costing $21,700 to Peace for $31,000. Of this merchandise, Peace continued to hold $5,000 at year-end. During 202, Silver transferred inventory costing $21,600 to Peace for $36,000. Peace still held half of these items at year-end. Silver reported $84,000 of net income for year 202. The amount of net income attributable to the noncontrolling interest for 202 would be